CORAL MOTEL & APARTMENTS
Is now working close to full accommodation potential and is the preferred choice for a great number of people due to each of the ten (10) studio apartments being very large, self contained with full kitchen facilities and private balconies. Together with a two bedroom house and one bedroom Manager's apartment, all on a half acre block. This little "Gold Mine" situated in a TAX HAVEN COUNTRY where there is no personal tax, no company tax, no capital gains tax.
Our emphasis is not so much from within the tourism industry although this is a considerable portion of the business, 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 had us filling a void which was evident from our first days in Vanuatu. This shift together with our upgrades has seen a significant occupancy increase now averaging 81.25% per annum (Jan 2006 through Dec 2007).
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.
We have Vanuatu Investment Promotion Authority (VIPA) approval for both restaurant and bar facilities which we know has excellent potential but, have chosen not to enter this field at this time. This will be for the new owners to decide.
The Coral is in Cyberspace with its own website www.coralmotel.com and also listed with various other sights = www.vanuatutourism.com www.spto.org www.travelmaxia.com www.vanuatu-hotels.vu www.globetrotters.co.uk www.tripadvisor.com = which are adding to our e-mail inquiries and bookings. We also take pride with numerous and continual repeat bookings and bookings from personal referrals.
The Lonely Planet Guide has given us the “thumbs up” and we take bookings from people of all countries 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. Although we advertise a small fee for return airport transfers, we rarely charge this which is a significant bit of PR.
We now have building plans drawn up, with development approval for an extra seven two level, one bedroom apartments to be built strategically behind our existing apartments in “terrace” style.
Currently, eight of the ten existing apartments have been freshened up with new paint, new furniture, new linen (Sheridan), new 2-door fridges, new TV’s. Two apartments have been left “as is”, except for new linen, new TV’s and fridges. We had new cable TV systems installed plus a DVD channel and carry an extremely comprehensive DVD library, all of which is controlled from the manager’s residence behind the main office.
All wood balustrades have been replaced with the best quality Vanuatu hardwood.
All kitchens are being replaced with solid Vanuatu timber (Rosewood) on a room by room basis beginning mid June 2007, as vacancies permit. Seven completed as at 1st February 2008.
All building and apartment maintenance is carried out to the best standards with a “replacement where possible” policy by us and the staff. This policy has seen us progressively moving forward bringing the premises up to standard, rather than a “return to fix it again & again” mentality.
As of 12 November 2007 new Fujitsu split system inverter air conditioners have been fitted into all Bay View (top floor) apartments, which has boosted occupancy even further.
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 choose to return and also recommend us to their friends, family and business associates.
We are very proud of our achievements to date and with our books showing significant amount of confirmed forward bookings, it will be a great start for Coral's new owners, giving them a great platform to begin making real money with the confidence.
A property valuation has been issued as at 11th March 2008 which exceeds tha asking price for this great business opportunuty.
A fresh 75 year land lease to be issued by Vanuatu Lands Department in April 2008.
Email or phone for more information and talk directly with the owner about this Tax Haven opportunity. Full figures will be supplied after negotiations begin.
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As a little bonus we are including our beautiful little wooden yacht, built in 1960 at Smith’s Boatyard in New Zealand (resembles Hereshoff) and after launching, the yacht was reputedly sailed to Florida, USA then back to Fiji, New Zealand and followed up with a journey to Vanuatu, where she now resides. She is 26’11” in length 5’ draft with a full keel. Construction is of tongue & grooved Kauri Pine and with tiller steering. Has a mooring in Port Vila Harbour and can be enjoyed when taking a break from work.
AUD $1,680,000 W.I.W.O.
(approximately USD $1,596,000 as at 1st February 2008)
