Selling as Freehold Going Concern
The property is located within a 8 km radius of Auckland city centre. The position is at a main arterial route which is extensively used and carries a high volume of traffic during most times of the day. It is handy to shopping mall and large format retail.
The motel has a long operation history of 40 years, catering for the holiday and business market. It is currently operated by a manager employed by the owners, offering 24 units all with their own kitchen, bathrooms as well as a spacious lounge area.
Key Investment Details:
* Large freehold site of 3,132 sqm
* 24 guest rooms and a 3-bedroom manager accommodation provides sizeable income
* Complete internal rebuilt and fully furnished during June to December 2016
* Other facilities: a full commercial scale kitchen and laundry and dry cleaning services.
* Rated for the best value in Auckland motel market
* Zoning mixed-housing urban providing superb re-development opportunity to generate solid income
* One-bedroom Units
There are 14 one-bedroom units which have an aluminum ranch slider opening on to an open plan lounge, dining and kitchen. This extends to the rear to bathroom facilities comprising shower, toilet and wash hand basin and opens to a double sized bedroom with built-in wardrobe and dresser. Services and amenities include stainless steel sink and bench units. Each apartment includes a lounge area with 50-inch flat-screen TV, 50+ cable channels and a dining area.
* Two-bedroom Units
There are 2 two-bedroom units located in the corner of the development with layouts and facilities similar to that described above, but with a second separate bedroom.
* Studio Units
There are 6 studio units offering typical rectangular shaped floor plans with open plan living with kitchen to the rear and extending to a bathroom/toilet.
The units are spacious compared to some more modern units.