342 York StreetSale VIC 3850
Property Details for 342 York St, Sale
Last Listing description (February 2025)
The Freehold Investment Property of The Aspen Motor Inn Located in Sale, Victoria is now for sale. The Aspen Motor Inn is a 24 Unit Motel of high-quality accommodation well located and easily found on the main highway in central Sale.
This Motel is a high turnover business offering modern and spacious guest rooms on ground level. This motel receives strong repeat corporate business, together with Tourism business generated by travellers along the Princes Highway through Gippsland, tourism and the lakes district, and trade generated by business of horticulture and farming, offshore oil and gas industry, nearby prison, and RAAF Base.
A long secure Lease is in place with approximately 28.5 years remaining on the lease if all options are exercised. The Lease provides for annual rental increases to CPI for the full term of the Lease. The yield offered at the Sale Price is 6.5% per annum with a further CPI Rental Increase due from 25/2/2025.
This Motel has a long history of consistently high revenues within the motel and strong profitability. It offers a secure long term Freehold Investment to astute investors in this industry where such Freehold Property Investments with favourable Lease Terms for The Investor are hard to obtain.
For Sale: $3,200,000
Contact The Sole Brokers for further information or to arrange inspection.
Bob McCormick 0408 510 938
Scott McCormick 0409 216 465
Disclaimer: All property measurements and information has been provided as honestly and accurately as possible by McCormick & Co and or their agent(s). Some information is relied upon from third parties. Title information and further property details can be obtained from the Vendor Statement. We advise you to carry out your own due diligence to confirm the accuracy of the information provided in this advertisement and obtain professional advice if necessary. McCormick & Co and or their agent(s) do not accept responsibility or liability for any inaccuracies.
Property Code: 137
Property History for 342 York St, Sale, VIC 3850
- 27 Oct 2025Sold for $3,185,000
- 09 Jul 2024Listed for Sale $3,200,000
- 02 Jul 2019Listed for Sale $975,000
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0About Sale 3850
The size of Sale is approximately 46.0 square kilometres. There are 35 parks, covering nearly 2.8% of the total area. The population of Sale in 2016 was 13673 people. By 2021 the population was 14296 showing a population growth of 4.6% in the area during that time. The predominant age group in Sale is 30-39 years. Households in Sale are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Sale work in a professional occupation.In 2021, 64.50% of the homes in Sale were owner-occupied compared with 63.90% in 2016.
Sale has 8,980 properties. Over the last 5 years, Houses in Sale have seen a 48.39% increase in median value, while Units have seen a 41.16% increase. As at 30 June 2026:
- The median value for Houses in Sale is $577,935 while the median value for Units is $364,355.
- Houses have a median rent of $520 while Units have a median rent of $405.
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