Cocrico Inn Owners retiring
Continuously maintained and upgraded with swimming pool, restaurant and bar located in Tobago's second largest urban region of Plymouth/Bethseda/Adventure. Adjacent to Arnos Vale, Turtle Beach, Fort James, Courland Monument, Mystery Tomb and multi-purpose Recreation Grounds.
Valued at TT$7million. Potential Annual Income of TT$2million. Can be easily converted from a 16 room to a 24 room hotel on existing site. Another 16 rooms can be built on adjacent lot if purchased. Great Investment opportunity! Immediate income upon purchase.
The hotel is situated on 19,044 square feet of freehold land in the heart of Plymouth. The property is completely fenced with two separate main entrances, bounded by three main streets and contains a two story L-shaped building with 9,981 square feet covered area. There are sixteen en-suite guest rooms, a large recreation room converted to a two bedroom apartment, manager and staff quarters, restaurant kitchen, dining room and bar, laundry areas, secure carpark and swimming pool.
Room occupancy rate averaged 50% over the past 4 years. This is well above the Tobago guest house/hotel average of 35%. Although our customer base is currently 90% domestic, we anticipate an influx of international arrivals in 2018, enough to boost our average room occupancy rate to above 65% in 2018 due to additional direct international flights to Tobago.
Freehold property being sold as a going concern and un-encumbered by the Owners, Changrela Ltd. A 10% down payment on the agreed price is required at the time of signing a Purchase Agreement. The balance is payable within 90 days.
Contact Michael at 18686392961, 18682380168, 18686781685 or firstname.lastname@example.org for further information and site visit. Bids will be received up to the time this post is closed.