A sprawling Katherine motel has dropped quickly in its asking price.
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Owners of the three-storey Katherine River Lodge now want $2.5 million, walk in, walk out.
Elders Real Estate had listed the large Katherine business for sale just over a week ago for $2.75m.
The popular Barrel and Cruise Restaurant is part of the 62-room motel complex which occupies more than a hectare and overlooks the Katherine River.
The Katherine Cinema is on the market as well for a listed price of $700,000 through Elders Real Estate.
Accommodation in Katherine has been a premium in recent years particularly with the ongoing upgrades at the Tindal RAAF Base.
The new 106-room Victoria Village recently opened its doors on the Victoria Highway, catering mainly “for workers”.
The village features a gymnasium, and an on-site tavern.
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