Commercial Property - Canterbury

Freehold Motel Investment

Sound Lease in Place

This motel block is located in the Christchurch CBD in a prominent position on Bealey Avenue.

The building is well maintained and comprises 10 motel units, including studio, one & two bedrooms. Each unit has a full kitchen, together with outside decks for all guests. There is also a separate laundry building/storeroom, together with a three bedroom leaseholders accommodation attached.

Land volume of 1,012 m2 with an outside shed and carport attached. There is plenty of onsite parking.

The business is sound, having recently been sold by us to a progressive operator. The purchase of Motel freeholds are not readily available, being snapped up really quickly, as the returns are a nett figure at 5%, with the leaseholder paying all rates, together with full maintenance of the units inside.

Lease is until 2032, with 2 yearly rent reviews, current rental being $60,003.00 per annum.

Capital value is $1,130,000.00.

Full inspection of the building is by prior appointment as this is an operational business.

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Afiliated Business Consultants Licensed under the Real Estate Agents Act 2008 - MOUNT EDEN

1/4/72 Dominion Road
MOUNT EDEN 1003

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