Provincial investment - long standing lease

111 Main Road, Tokoroa

By Negotiation

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Provincial investment - long standing lease | 111 Main Road, Tokoroa | 2501852 |      X Close

Provincial investment - long standing lease

-Large 5,134sqm freehold land plus buildings with strategic SH1 location

-Clifton Court Motel comprising 18 units plus four-bedroom managers residence

-35 year lease (commenced February 2018) to established motel operators with personal guarantees

-Annual (net) rental income of $245,584.30 + GST

-Additional income from Landlord financial loan repayment with interest to pass to new owner

Full refurbishment of this property is now complete, resulting in a total upgrade transformation. Successfully run as a motel complex for many years, the Vendors have now on-sold the motel lease to the current operators who are enjoying the long-standing and reputable business this fantastic operation provides. Strong lease covenant provides for personal guarantees, two yearly rent review to CPI +1%, and scheduled interior and exterior maintenance date.

111 Main Road is positioned on the western side of SH1 within the commercial strip of Tokoroa, surrounding neighbours include Countdown, Bunnings, Mobil, National brand food outlets, Waikato Sports / Events Centre, and an indoor swimming complex.

The motel is a very popular accommodation stop-over with excellent rating reviews in a prime provincial location.

Favoured long term, passive investment with attractive returns for the astute buyer.

111 Main Road, Tokoroa

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