nzbizbuysell.co.nz/97575
Ad ID: 97575

Accommodation Business for Sale Queenstown

Residential Investment Property For Sale In Queenstown

Location:
Asking:
$7,400,000
No GST

Business for Sale Description

Accommodation Business for Sale Queenstown

Purpose-Built Residential Investment Property in Queenstown

Situated half-way between the Queenstown CBD and Queenstown airport, this unique accommodation complex features four significant units (with unit-titles only days away), offering a total of 32 bedrooms and 16 bathrooms.

Offered at 7.4 million, one million below valuation, our vendor has reduced the price to sell in 2020, giving you the opportunity to earn massive 7.4% returns!

KEY FEATURES

  • Freehold Residential Investment Property
  • 2,000m² Land title (approx.), currently on one convenient title
  • Prime location in Queenstown
  • Purpose-built 800m2 complex
  • 4 units, each with 8 bedrooms & 4.5 bathrooms
  • Onsite car parks for 9 vehicles, with consent for more
  • Currently tenanted, with optional vacant possession
  • Fixed term tenancy means cashflow gives certainty
  • Sell price is GST inclusive (with opportunity to claim GST back)
  • Secure your 7.4% ROI in 2021 on a 7.4mil investment today!

The October 2020 REINZ Report shows Queenstown prices have increased 8.2% in three months, and medians are up 22% year on year for Otago, some of the highest increases across the country.

Returning over $10,000 per week this is the perfect opportunity for an astute investor, or group of investors, to capture a significant freehold property in Queenstown.

With a registered valuation of 8.4 million, this property is ideal for Family Trusts (one unit for each beneficiary?), employers as employee accommodation, or cooperate investors keen to get a foothold in Queenstown.

Business Resources

Priced at 7.4 million, four investors, at 1.85 million, could have their own 8 bedroom unit and associated carparks in this stunning scenic playground.

Currently the 32 bedroom complex is leased to one great tenant, and the lease continues through until November 2021 at a rent of $10,500 per week, or $546,000 per year. As part of the sale, the vendor will guarantee the current monthly rental until the expiry of the current tenancy agreement in Nov 2021*.

The landlord’s operating expense includes rates & insurance, and a small amount of garden maintenance annually, amounting to approximately $16,000 per year.

As this is a residential complex and is rented out as a residential property, the price is GST inclusive, and no GST has ever been claimed. There is a great opportunity here to put the 4 units into 4 unit titles and claim the GST on the property.

Finish 2020 strong and lock in 7.4% return on your money for your 2021.

Interested In This Opportunity?

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Tourism Properties.com
For more info
Contact: Adrian Chisholm

Adrian Chisholm

+64 21 727 888
Tourism Properties.com
Licensed REAA 2008
Broker Ref: 32335

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