BOUTIQUE HOTEL WITH EXCELLENT CASH FLOWS - Click for details

Listing ID

1130

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Location

Within 1 hour of Halifax

Description

This boutique hotel property is set in a prime tourist district and offers an incoming owner a growing source of income, easy operations of a rooms only business, and the opportunity for growth if desired.

There are a total of 39 rooms in two buildings.

Financial Information

Growth in revenues year over year for the past 5 years, primarily based on business' growing reputation and marketing efforts. Expectation is for continued growth based on current macro factors, including a local development within one block of this property expected to drive additional demand season round.

Fiscal year end is June 30 - just before tourist season starts. The 2018 operating season (Fiscal 2019) has proven to be another strong year, with results ahead of the 2017 (Fiscal 2018) operating season.

NOI for 2018 - $404k (after owner salary)
NOI for 2017 - $376k (after owner salary)

* In order to move forward with this deal, a minimum equity of $1,000,000 is required.

Minimum Equity Required

$1,000,000

Real Estate

Prime downtown land provides the perfect street frontage for this operation and it's successful commercial leasing of this 3 storey boutique hotel. Location is ideal, within walking distance from all tourist attractions.

- Top of the line mechanical systems ensure cost of ownership kept to a minimum. All systems are approximately 5 years old.
- Environmental assessment recently completed, all clear.
- Total commercial lease revenue from 4 commercial units

Additional real estate / business opportunity exists with this sale and would be very appealing for a motivated entrepreneur.

Price

$3,000,000

Non Disclosure Agreement

I hereby acknowledge that information regarding the following business(es) and/or Seller(s) is being provided to me in SECRECY AND CONFIDENCE and is to be used solely for the purpose of assessing the prospective purchase of the business(es) through Gateway Business Brokers.

I agree not to disclose any of the information given in connection herewith, either directly or indirectly, to third parties, except direct support people; nor will I use, or assist others to use, any such information for competitive trade purposes or to circumvent Gateway Business Brokers in any transaction or contact with the seller(s). I agree not to make copies of any of the material provided and to return all of it if I discontinue interest in the Business. The material and information furnished is believed to be reliable for the purpose of evaluating the Business. Further, I agree that all inquiries, investigations, negotiations, offers to purchase, and/or letters of intent must be made through Gateway Business Brokers. I agree to protect and not disclose the confidentiality of the information I receive permanently, even if I choose not to purchase the said business.

I agree that any breach of this Non-Disclosure Agreement (the "Agreement"), directly or indirectly, will be harmful to the Seller(s) and Gateway Business Brokers. In consideration for the information given, I agree that the laws of Nova Scotia will govern this Agreement and that all actions that may arise in law and/or equity shall be brought in Nova Scotia.

It is understood that this Agreement also applies to any information previously supplied by Gateway Business Brokers, verbally or in writing. I understand that neither the Seller(s), the Business(es), its officers, directors, employees, nor Gateway Business Brokers ,shall have any liability as a result of furnishing me the material included in this Agreement.

This agreement also acknowledges that the undersigned Buyer(s) has (have) been advised that Gateway Business Brokers provides Client representation for the seller(s) and Customer representation for the buyer(s) in this transaction, as per the terms that have or will be provided. I agree that should I buy, lease or come into possession of the Business, in whole or part, during the listing term or within 1 year from the expiry date of the listing term, Gateway Business Brokers’ right to a fee, as per Gateway Business Brokers’ agreement with the Seller(s), will be deemed earned. I understand I will be personally liable for payment of any applicable fees, as so reasonably determined, if I breach any clause of this agreement. It is agreed, however, that if a purchase is completed with the assistance available from Gateway Business Brokers, I am not liable for a fee.

Non-Disclosure Agreement