62 Room Northern BC Hotel - Click for Details

Listing ID

1126

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Location

Northern British Columbia

Description

62 Unit Hotel, addition and fully renovated in 2014. NOI has been in excess of $1.2M. The seller is open to a sale of shares, or a hybrid structure, should the purchaser wish to obtain a lower purchase price. Currently there is a full management staff in place and restaurant has recently been leased.

This Hotel is located in an important commercial district of Northern British Columbia. The clientele is primarily corporate / commercial with an increasing tourism client. The property is servicing all levels of government, teachers, healthcare, and executives from rail, mining, and lumber.

There is room for expansion inside current building envelope. (Possible owners quarters, additional rooms, weight room, meeting room, retail space, etc.)

Recent announcements of two very important projects are already in the first steps of being started. A new hospital as well as the TransCanada Coastal Gas Link.

This property is managed by hired staff. The owners are not involved in the daily operations.

Full overview is available to qualified buyers after NDA is signed.

* In order to move forward with this deal, a minimum equity of $2,400,000 is required.

Financial Information

During the last project that came to town, finished mid 2017, the property enjoyed NOI in excess of $1.2M per year.

Leased Restaurant - $7/k per month.

Room Sales for the 12 months Ending March 31

2018 - $1.517M
2017 - $2.077M
2016 - $2.048M
2015 - $1.693M

Minimum Equity Required

$2,400,000

Real Estate

The 3 storey, 35,400 sft, property is situated on a +or- 1.6 acre parcel of land
Guest rooms: 62
Food and Beverage Facilities: A restaurant and lounge with seating for 90+
Meeting Space: none, however, there are two spaces that can be developed into meeting space, guest laundry, or owner quarters, 1000 sft and 2200 sft respectively.
Additional Facilities: vending area
Parking Spaces: + or - 80

There property is serviced with Town sewer and water.

Price

$5,900,000

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