Fraser Lake Inn & Stick & Stone Pub

Civic Address: I I I Endako Avenue, Fraser Lake, British Columbia

Legal Description: Lot 1, Range 5 . Coast District, Plan ? except plan PRP 1 3252, District Lot 617, Parcel identifier: 01I -019-913

Location: Fraser Lake is a community of approximately 1,300 people located 160 kilometers West of Prince George on Highway 16. The two main employers are West Fraser Mills, who operate one of the most modem sawmills in the world, and Endako Mines who operate the largest molybdenum mine in Canada. Some of Canada's best sport fishing is found in the region including excellent rainbow fishing on Fraser Lake.

2003 Assessed Value: $730,458 (2003 Taxes $11,322)

Improvements: The Hotel- Building is a two storey, 35-year-old wood frame/concrete block structure comprising 20,839 square feet not including the basement basement. The building is sprinklered. The roof is 70% tar and gravel and 30% new torch-on. Heating is supplied by gas fired boiler hot water heat with supplemental heat.

The hotel has 32 rooms on the second floor. On the main floor there is an 85-seat restaurant (currently leased to an independent operator); a 193-seat pub; a banquet room/lounge and one retail bay roughly 1,200 square feet in area.

Fraser Lake Shopping Centre Inc. purchased the property from Bankruptcy in 2003. Since that time, Fraser Lake Shopping Centre, by the end of May 2004, will have invested an additional $100,000.00, including the installation of fire alarm panel and related system, concrete siding exterior upgrade, including new sidewalks and other improvements.

Site Area: .454 hectare (1.12-acres)

Net Income: No recent history available. Currently, since taking of the Hotel & Bar from previous tenant in December 2003 the bar and Hotel averaged ss sale of $40,000.00 per month.
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The restaurant net income (leased) $12,500.00
The CRU estimated net income $9,600.00
The banquet room/lounge - Net Income N/A

1997 appraisal of the Hotel Property - @$1,490,000.00
Zoning: C-1

Price: $695,000