14 and 19 Joy Street, Oamaru, Waitaki

Hidden gem in Oamaru

• Offering a panoramic view, encompassing mountain ranges all the way to the ocean
• Substantial freehold landholding of 7,816sqm in total situating on elevated location
• Oamaru rapidly emerging as a coveted tourist destination within North Otago

Presented to the market is a unique opportunity, a blend of existing accommodations, renovation projects, and prospects for future development. It's an ideal proposition for astute investors or aspiring motel/hotel operators seeking to grow, innovate, or carve out their niche in New Zealand's burgeoning tourism industry. Currently, the business operates as short-term accommodation, generating an annual income of approximately $200,000. The property is strategically situated on an elevated site in Oamaru, a coastal town located about 113km north of Dunedin and 240km south of Christchurch.

The property encompasses an accommodation complex with 21 rooms and an ongoing renovation project that will soon offer additional rooms for backpackers.

This real estate venture boasts a mix of existing accommodations and ongoing improvements, making it a multi-faceted investment opportunity.