Ad ID: 61314

Management Rights Business for Sale Whitianga Coromandel

The jewel of the Coromandel Peninsula

Location:
Asking:
$1,345,000

Business for Sale Description

Management Rights Business for Sale Whitianga Coromandel

It’s a commonly held belief that location and quality is everything, and when offering great holiday accommodation this complex lives up to such a statement.   

 Located across from the water in Whitianga on the Coromandel Peninsula, the management rights for this very successful complex is being offered for sale that includes the business and 2 apartments (1 on its own title), and with a total of 18 apartments (a mix of 1, 2 & 3 bedrooms) in the letting pool makes for a very profitable business that’s still growing. Unlike a motel, each apartment is large, self-contained with its own full kitchen, laundry, private deck with views of either the water or town, Sky TV 50 + channels, DVD player, Wi-Fi and undercover car park in the basement. As an added attraction the swimming pool (heated in summer), hot tub and BBQ are always very popular. No leaky building issues either, as the building was re-clad and a new Code of Compliance issued 2014.

Included in the sale:

  • Management Rights: 10 + 10 + 10 years with a final expiry 2039
  • Managers 1 bedroom freehold apartment (stratum estate)
  • Very profitable with income received from an annual fee plus letting fees
  • 2 bedroom fully furnished apartment separate to management right on its own freehold title

Whitianga is about 2 ½ hours from Auckland, Tauranga and Hamilton and its current population of approximately 5,000 permanent residents is expected to double by 2025, but from about October to May it’s home to thousands of holiday makers who come to visit the beaches, Hot Water Beach, Cathedral Cove, fishing, diving, biking and walking tracks, art and craft shops along with the many other attractions on the Peninsula. Because of its popularity a rescue helicopter is based in the town over summer. 

The number of events (scallop festival, Rod Millan’s leadfoot hill climb, concerts, Targa rally) being hosted in the town is increasing, and with organizers planning more this complex will certainly benefit.

If you’re considering the growing tourist (national and international visitors) accommodation industry and would like to invest $1.345 million in a business that’s well supported by strong financials plus 2 apartments please contact Darcy Snowden, firstly for a confidentiality agreement then an information memorandum.

Interested In This Opportunity?

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Christopher Brown & Associates Ltd (mreinz)
For more info
Contact:

Darcy Snowden

021941511
Christopher Brown & Associates
REAA 2008

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