Alexandra, South Island
Freehold Hotel opportunity
SOLD
Business Description
Sitting on a commanding corner of a main thoroughfare, the Centennial Court Hotel is well known and well patronized Hotel offering guest accommodation, a licensed restaurant, a housebar, conference and meeting rooms to a wide range of clientele.
On a large 3,621sqm of land encompassing three titles the property returns a net rental of $240,000 + gst and outgoings per annum paid by the tenant. With the lease in place to 2043, this opportunity offers a sizeable investment and return with pro-active tenants who have operated the business since 2016.
There are 33 guest rooms with the conference room catering for up to 60 and the bar and restaurant is popular with locals and guests alike. Operators live on-site in the large and private four bedroom residence attached to the Hotel.
This is a prime investment for definite sale by owners looking to downsize their portfolio.
bayleys.co.nz/5517760
Business Summary
Key Investment Insights
- The Centennial Court Hotel is a well-known and well-patronized hotel located on a main thoroughfare.
- The property sits on a large 3,621sqm of land encompassing three titles.
- The hotel offers guest accommodation, a licensed restaurant, a housebar, conference and meeting rooms.
- The property has a net rental income of $240,000 + gst and outgoings per annum paid by the tenant.
- The lease is in place until 2043, providing a long-term investment opportunity.
- The current tenants have been operating the business since 2016 and are proactive.
- The hotel has 33 guest rooms and a conference room that can cater for up to 60 people.
- The bar and restaurant are popular with both locals and guests.
- The operators live on-site in a large and private four bedroom residence attached to the hotel.
- The property is being sold by owners looking to downsize their portfolio.
- The sale is being managed by Bayleys Real Estate.
- The listing can be found at bayleys.co.nz/5517760.
