Sea change spurs family to run Tablelands motel
MELBURNIANS have swooped in on a prime investment opportunity on the Atherton Tablelands, buying one of the region’s most popular and longest running motels.
The leasehold of Mareeba Motor Inn, a 23-room, resortstyle property for short and long term stays, at 163 Martin Ave, has been bought by husband and wife team Brad and Georgie Sleurink.
The freehold passive investment was sold to another investor, also from Melbourne, for $1.8 million.
The couple, who have a young son, traded in their corporate lifestyle in Melbourne – Brad was a lawyer and Georgie an architect – for a new business and direction in life.
“We both previously worked stressful jobs and we wanted to spend more time with our son and purchasing a motel has allowed us that opportunity,” Mr Sleurink said.
“It has also given Georgie the chance to learn more about the accommodation industry as she hopes to design her own accommodation one day.”
Both the leasehold and freehold was sold by ResortBrokers’ Shane Croghan, who said the hardworking couple picked up an outstanding business.
“This motel is relatively easy to run and was a perfect first accommodation business for Brad and Georgie and it was showing a ROI of around 50 per cent with plenty of upside, which is really rare,” Mr
Croghan said.
“The previous operators also maintained and refurbished the motel, putting all profits back into the business so that freed Brad and Georgie up to get in and learn the ropes without any distractions.”
The learning curve has been steep but the couple were enjoying the challenge of their massive career change.
“It has been a whirlwind, there is a lot to learn very quickly. That being said, we have retained a lot of the staff who are amazing and have made it an easy transition,” Mr Sleurink said.
“We are heavily involved in the day-to-day activities of the business from cleaning to book keeping to serving meals, so we are learning as we go.”
Like other moteliers across the country, the Sleurinks said they have already been affected by the travel restrictions caused by the coronavirus.
However, they said once travellers and corporate workers start moving again, they would benefit from a lift in business.
Mr Croghan also said the fallout from the coronavirus in the capital cities, especially Sydney and Melbourne, would lead to more “tree and sea changers” inquiring about businesses in the Cairns region.
“The coronavirus pandemic has shown us that there is a massive difference between life in the major cities and life up this way,” he said.
editorial@cairnspost.com.au facebook.com/TheCairnsPost www.cairnspost.com.au twitter.com/TheCairnsPost