Coral For Sale

FORWARD NOTE:

Thank you for viewing this page and please feel confident booking accommodation with us on an ongoing basis as we are continuing business as always, taking special care of our guests and should the Coral find a very lucky new owner, it will take a considerable period for transition to take place and new owners will be thankful for all advance bookings. Continuing to honour the dates as we have in the past.

Although for sale, our booking policy never includes advance payments of any type, including no deposits. Payment has always been on arrival. We have a cancellation policy as all hotels must and this covers us quite well.

Please do not hesitate and continue booking accommodation at the Coral with confidence and security. Thank you again for reading this prior to reading the advertisement below.

Business For Sale…………..

CORAL MOTEL & APARTMENTS in Port Vila, Vanuatu is an ideal and “rock solid” lifestyle investment in our current economic times and an absolute “GOLD MINE” for anyone wanting to enjoy a great income with a laid back lifestyle in a Tax Haven country which has NO personal income tax, NO company tax, NO capital gains tax, NO currency restrictions, NO stress, totally fantastic. Located in the South Pacific country of Vanuatu, which is close to Australia and New Zealand and the Coral Motel is being sold on a “walk in walk out” basis which will benefit the new owners immensely. Everything is fully functional with plenty of backup stock & equipment.

Coral Motel and Apartments is now working close to full accommodation potential with the last two & a half years showing an average occupancy rate of over 80%. The Coral is the preferred choice for a great number of people returning to Vanuatu and via referrals from our past guests, due to apartments being very large, extremely clean, self contained with full kitchen facilities and private balconies.

Our emphasis is not so much from within the tourism industry from which we get plenty of bookings, but rather the extended stay and longer term guests such as business people, workers on employment contracts, religious groups, missionaries, etc. This shift has been a deliberate tactic by us, enabling us to move away from the “over servicing” of the tourist market and filling a void which we saw as evident from our first days in Vanuatu. This shift has seen a significant increase in occupancy which is averaging at 80% per annum.

The Coral is conveniently located and the closest accommodation to the International/Domestic Airports and also within easy access of town and CBD. This is a great motivator for people to choose us ahead of other Budget Motels/Hotels.

Coral Motel is a quiet place with no bar or restaurant to keep the guests awake late into the night with undue noise and disturbances. Although we have Vanuatu Investment Promotion Authority (VIPA) approval for both restaurant and bar facilities, we have chosen not to enter this field at this time.

The Coral is in Cyberspace with its own website www.coralmotel.com and also listed with various other sights = www.tripadvisor.com www.baches.co.nz www.hotel-discount.com www.south-pacific.travel www.travelmaxia.com www.globetrotters.co.uk www.spto.org = just to name a few, which is adding greatly to our bookings and e-mail enquiries. We take great pride with our numerous and continual repeat bookings and bookings from personal referrals and we also take bookings from Europe and USA due to this.

We are popular with tourists heading to the outer Islands and returning, due to our convenient location to both Airport and CBD.

We have Municipal development approval for additional one bedroom apartments to be built strategically behind our existing apartments in “terrace” style. The land area is large enough for more apartments to be built.

All 10 apartments plus the manager’s residence have had full bathroom re-builds/renovations & the 10 apartments freshened up with new paint, new furniture, linen, new gas stoves, 2-door fridges, TV’s & new drapes. We have cable TV system installed plus a hotel DVD channel and carry an extremely comprehensive DVD library, all of which is controlled from the manager’s residence adjacent to the main office.

All kitchens are being replaced with full timber (Rosewood) on a room by room basis with seven apartments completed to date. All timber balustrades have been replaced with the best quality Vanuatu hardwood.

New Fujitsu Inverter Split System Air Conditioners were fitted to the five Bay View (top floor) apartments, which has boosted occupancy further…………

All maintenance carried out has been to the best standards with a “replacement where possible” policy by us and all the staff. This policy has seen us progressively move forward bringing the premises up to standard, rather than a “return to fix it again & again” mentality. We can be assured our guests have a stress free stay with us and put us at the head of their list for their next visit, if they chose to return and also recommend us to their friends, family and business associates.

Recently applied coating of fresh paint externally together with painting of roof , using only the best Wattyl Solar Guard paint.

A property valuation has been carried out by a 25 year Vanuatu real estate veteran, which supports the asking price for this great Tax Haven & Lifestyle business opportunity.

Foreign Investment approval is in place for Restaurant & Bar Facility which we have, to date, chosen not to expand into. Leaving the way fully open for any enterprising person/s, retired, semi retired or fully active, to pursue just about any tourism or hospitality venture they wish.

All real estate in Vanuatu is a “Lease System” and has a lot of protections in place for foreign investors. The Coral Motel has a new land lease extension from the originally issued 50 years to 75 years, issued by Vanuatu Lands Department.

The sale price is $1,750,000 AUD. It includes all lands, buildings, stock (extensive), back up stock, plant equipment & the excellent goodwill associated with Coral Motel & Apartments.