Ad ID: 91913

Motel Land and Building for Sale Hokitika West Coast

Sought-after Motel Land and Building Investment

Business for Sale Description

Motel Land and Building for Sale Hokitika West Coast

This is a rare opportunity to purchase a passive commercial investment in the motel industry. The property is presented in excellent condition and constructed of low maintenance materials.

COVID 19 UPDATE. This business continues to trade well. When the lockdown was announced, the building owner and the operator agreed to a two-month rental reduction. The business is now back to paying full rental as of June 2020. This attests to the strength of the operation given the current circumstances.

In conjunction with the commercial investment, the adjacent residential rental property on 921 sqm is offered for sale at $200,000 including GST. It is currently rented at $330 per week. This provides the owner with the opportunity for possible future expansion of the motel and to a certain extent, better control over the immediate neighbour to the business.

An excellent mix of units, with the large land area of 1824 sqm affording the luxury of being all ground floor. The complex was entirely refurbished throughout 2006 and early 2007 and four new studio units were built at that time.

The business is prospering in the hands of a very capable operators, as evidenced by guests\' accolades, including consecutive TripAdvisor Certificates of Excellence.

Secured by a long-term registered lease with a conservative market rental, should provide good upside for the future.

Please be aware that some of this information may have been sourced from RPNZ/ Property Guru/ Land Information New Zealand and we have not been able to verify the accuracy of same.

We would welcome your enquiry on the Land and Buildings of this Motel for sale in Hokitika via our website or by phoning KELVYN COFFEY on 0800 263339, DDI 03 550 0459 or 027 432 0565.

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Coffeys Tourism Property Brokers Ltd
For more info
Contact: Kelvyn Coffey

Kelvyn Coffey

Kelvyn Coffey
027 432 0565 or 03 550 0459
Coffeys Tourism Property Brokers Ltd
Licensed REAA 2008
Broker Ref: 3879

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