Ad ID: 71096

Motel for Sale Timaru

Affordable Timaru Motel- Great Location

Location:
Asking:
$395,000

Business for Sale Description

Motel for Sale Timaru

Homestead Lodge Motel operates as a 13-unit motel in a central Timaru location at 28 Evans Street, on the main State Highway 1 thoroughfare through the city. There are 8 studio units, 2 x 1-bedroom units configured as family apartments, two budget apartments, and a large family apartment with three bedrooms and very spacious living area. The motel business is secured by a lease which has approximately 22 years to run. The main land and buildings are owned by a local Timaru family through their Family Trust, with two separately-leased adjacent flats easily accessed through a side gate, which are utilised as budget apartments. The large family apartment is accessed through a rear gate and is a standalone modern home, approximately 18 years old, owned by our Vendors which they are prepared to come to an arrangement to rent it to the motel operator. Our calculations have included estimates of these costs (see Financial Analysis).

The Manager’s residence at Homestead Lodge Motel is 2-storeyed, and has three bedrooms plus two comfortable living areas, with the motel reception conveniently located off the living area at the front of the main motel. Good carparking is provided for guests.

Homestead Lodge Motel is a well-presented motel which is showing good performance, with well-established regular clientele, and forward bookings in place, illustrating the popularity of this business.

Homestead Lodge Motel is in a very handy location, just a short walk from Timaru’s iconic Caroline Bay, with restaurants on the city’s Bay Hill and the city centre also within walking distance. Timaru’s CBay Aquatic Centre is also an easy walk from the motel. The main city centre shops and a supermarket etc. are within a couple of minutes’ drive.

Timaru city is located on the east coast near the middle of the South Island of NZ. The city serves a district of 46,700 people, with a wide rural South Canterbury hinterland. It provides an excellent location as a sporting and social hub for those coming from other areas of the South Island, who require accommodation for events held in Timaru. It has a protected beach, Caroline Bay, which serves as the focus of an annual Summer carnival. Timaru is also handy to popular trout and salmon fishing rivers. It is an ideal staging point for trips to the MacKenzie Basin, with Lake Tekapo just over 1 hour’s drive away, and Aoraki Mt Cook approximately 2.5 hours’ drive. Strong tourist numbers have supported excellent custom of motels around the South Island, particularly over the past three to four years, and centres such as Timaru have been able to participate in this tourism boom.

Viewing of Homestead Lodge Motel is recommended to those who are seeking an easily-operated profitable motel business in a good location – contact Athol to progress your interest further.

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For more info
Contact:

Athol McCully

Athol McCully
0274338052
Harcourts Grenadier RE
Licensed REAA 2008
Broker Ref: CIC47734

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