Parkes

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The Hotel Gracelands in Parkes, NSW has been listed for sale.
Located at 7-9 Bushman Street, Parkes is the Hotel Gracelands as well as IKON, a restaurant and wine bar.
<img src="https://www.urban.com.au/images/2018/10/4/Grace2.JPG" alt="">
They are currently under a 30 year lease until 2044 plus options until 2064 with annual rent increases to greater of CPI or 3%.
The hotel has 20 appointed rooms plus had DA approval which has since lapsed for 30 additional rooms.
They are reported as having "high level of repeat corporate clientele."
The net income for the property is $191,336 plus GST and the tenants pay all outogings.
In 2014 the property sold for $2 million.
The auction is set for October 23.
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Parkes' Hotel Gracelands for sale

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A blue-ribbon property located 20 kilometres north-east of Parkes in Central West NSW has sold at auction for $4,237,000.
It was sold by Geoff Rice, of Raine &amp; Horne Parkes, for a district record.  
The 1406-acre property known as Mossburn &amp; Pinegrove went under the hammer earlier this month.
It was as secured by Peak Hill couple Garry and Donna Kopp.
Mossburn &amp; Pine Grove has been in the Simpson family for three generations. 
The Kopps breed Merino sheep on their property at Peak Hill, which is in the Parkes Shire, and have secured Mossburn &amp; Pinegrove for their son. 
“The auction attracted four registered bidders including the Kopps, who competed eagerly for the property located in Parkes’s tightly held rural dress circle region near the Parkes radio telescope observatory,” Rice said. 
It was sold by the long-time owners Ian and Diane Simpson.
"It demonstrates that despite one of the worst droughts on record, quality in this region still sells.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/parkes%203.jpg" alt="">
Consisting of 1406 acres of alluvial creek country, the property, which is well fenced and well-watered has regularly produced fat lambs and crops. 
Rice noted water is a distinctive feature of the property boasting two springs and a stock and domestic bore serving all 21 paddocks through a trough system. 
“With highly improved pastures consisting of Lucerne and Clover, the property currently carries 900 1st X ewes alongside its cropping program.”
Other features of the property include two homesteads with up to five bedrooms.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/parkes%204.jpg" alt="">
The main homestead has a fully renovated kitchen and bathroom and comes with an immaculate garden setting.
The property has a backup 8.3 kW solar system. 
Raine &amp; Horne’s digital technology platform Amplify attracted more enquiries for Mossburn &amp; Pinegrove. 
Amplify uses artificial intelligence (A.I.) and social media to engage with active and passive buyers. 
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