Colliers International’s Director of Metro Sales, James Crawford has sold the Cook’s Endeavour Motor Inn, Tweed Heads business and freehold in a deal worth $3.25 million.
The Motor Inn was built in the early 1980’s and features, a 4 bedroom manager’s residence, commercial kitchen, pool and spa located directly across from the Tweed Mall in Frances Street, Tweed Heads.
Despite being situated on a medium density residential zoned site of the 1,859sqm with two street frontages, it is expected that the new owner will operate the motel as tourism continues to strengthen in the Southern Gold Coast and Tweed area.
The property was marketed via a national Offers to Purchase campaign which closed late last year attracting almost 80 buyer enquiries.
Mr. Crawford said, “I attribute the strong interest and result to three key factors: the strong cash flow business, genuine future upside and local tourism drivers such as the nearby Gold Coast Airport upgrades.