Ad ID: 70201

Motel Development for Sale Ravenswood Canterbury

Ravenswood is a new master-planned North Canterbury township which provides 1,350 residential sections with large areas of open space, along with a full-service commercial precinct.

Location:
Asking:
$990,000
+GST if any

Business for Sale Description

Motel Development for Sale Ravenswood Canterbury

Located in a desirable position on the northern fringe of Woodend, Ravenswood extends from Rangiora Woodend Road in the south, to State Highway 1 in the north east. Central Christchurch is a short commute to the south and travel is about to become significantly more efficient with the pending completion of motorway enhancements.

Ravenswood is adjacent to Pegasus with associated recreational opportunities and amenities including a golf course, Lake Pegasus and the beach beyond plus biking and walking tracks.

The commercial precinct has generated strong interest and a number of national retail brands have already committed to the project or are at an advanced stage of negotiation.

Construction of the commercial area is underway and Stage 1 residential will start shortly. Residential sites at Ravenswood have sold well due to competitive pricing, high amenity values, proximity to shopping and services plus numerous recreational opportunities nearby.

Business Resources

Prime commercial land, lot 202, 3,609m2 more or less is in an excellent location, easy access from State Highway 1 and ready for development. Consent is in place to build a motel complex for 26 x 2 bedrooms units along with a double story dwelling for the manager's residence. The 26 units are separated in 2 blocks, one set of 13 units on the ground floor and 13 units on the upper floor, the manger's unit will be detached from the motel units plus 32 on site car parks. Please refer to the recourse consent within the Documents page tab.

Strategic Overview

Factors underpinning buoyant outlook for commercial activities at Ravenswood include:

  • Excellent exposure to Stage Highway 1 which has some 18,000 vehicle movements daily and is projected to reach 28,000 by 2027 
  • Limited supply of commercial land in this locality 
  • Developer controls in place to ensure an appropriate mix of business uses occur 
  • Strong growth in the primary and secondary retail catchments that Ravenswood can service 
  • Strategic location which will allow Ravenswood to become the commercial hub servicing the wider area 
  • Well-established national brands committing to Ravenswood, providing confidence to other buyers 
  • Example of a successful outcome at Rolleston for businesses beside SH1, which as with Ravenswood also has an adjoining residential base 
  • Ongoing population growth in surrounding areas, such as Pegasus, Rangiora and Woodend 
  • Significant employment opportunities associated with the new businesses at Ravenswood including the supermarket, service station and fast food operators, plus the residential construction sector 
  • NZTA is spending approx. $600 million building three new motorways to service northern parts of Christchurch. This will reduce congestion and significantly benefit Ravenswood 
  • In terms of comprehensive shopping facilities there is no competition in the immediate vicinity. The New World supermarket at Ravenswood will become a major draw card for local residents along with passing traffic on State Highway 1. Complementary businesses who establish a presence in the adjoining retail area at Ravenswood will benefit from this captive market and future growth 

Brokers Comments: This is an excellent opportunity for a smart investor to develop the site, own and operate the business or alternatively lease the business and retain the freehold investment.

Interested In This Opportunity?

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Tourism Properties.com
For more info
Contact:

Brad Watts

+64 21 278 0919
Phone: Brad Watts
Tourism Properties.com
Licensed REAA 2008
Broker Ref: 55418

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