Two Warrnambool motels on the market

For a buyer looking to enter the market, the City Heart Motel is a great option, Mr Cronin said.

He said the motel's leasehold was up for grabs and the price had been reduced to $300,000.

"The motel is in a very central position in Warrnambool," Mr Cronin said.

"It's a very popular choice for regular clients who return to the city each year and it has been refurbished by the current owners."

Mr Cronin said the motel offered 17 rooms and offered a healthy income.

"We've had a few offers and we're currently in discussions with a buyer," he said.

"It's a good entry-level motel to get into."

Meanwhile, the freehold of the Tudor Motor Inn, which boasts a restaurant that has a 15-year-lease is also up for grabs.

Mr Cronin said the property boasted 23 units and a modern three-bedroom residence.

"We've had a number of inspections of that property," he said.

Mr Cronin said he regularly had inquiries from investors about properties in Warrnambool.

He said a number of motels in the city had sold recently, including the Blue Whale Motel and the Comfort Inn.

Mr Cronin said he believed there would be a spike in domestic travel due to the economic stimulus package promised by the new federal government.

"Domestic travel has boomed and I think we will see that increase," Mr Cronin said.

"Warrnambool is certainly a major regional centre and it's on the coast.

"There is always strong demand for Warrnambool in general."

IN OTHER NEWS:

Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content:

Now just one tap with our new app: Digital subscribers now have the convenience of faster news, right at your fingertips with The Standard: