Christchurch Central, South Island
Modern - High Profile - Rare Freehold Opportunity
Land, Buildings and Business $6,000,000
Business Description
This is a rare opportunity to acquire the freehold going concern of one of Christchurch's newest motels, built post-earthquake in this sought after section of Riccarton Road. (The leasehold interest only is available separately at an ingoing price of $1.2 million.)
A good mix of 22 units catering to all sectors of the market, in a desirable locality a stone's throw from the Bush Inn Shopping centre and not far away from Westfield Mall as well. The University of Canterbury is just a few minutes' walk away. It is surrounded by a wide variety of dining options.
A good managers' residence for a modern motel such as this, particularly in a relatively high land value area. Three bedrooms all ground floor with three toilets (Master ensuite) and internal access to a double garage.
The complex has been totally refurbished recently, so presented like new and this is reflected in the rave reviews it receives from the happy guests.
With the significant increase in building costs in recent years, we believe it is very likely that the cost of constructing the buildings alone these days would exceed the asking price here. This takes no account of the value of the land and the business/chattels.
Has there ever been a better time to buy an accommodation business in Christchurch?
Please be aware that some of this information may have been sourced from RPNZ/ Property Guru/ Land Information New Zealand and we have not been able to verify the accuracy of same.
An Information Memorandum is available to download from our website coffeys.co.nz.
Some details of this listing are confidential and can only be disclosed upon completion of a confidentiality agreement, included in the Information Memorandum.
We would welcome your enquiry on the Land, Buildings and Business of this Motel for sale in Christchurch via our website or direct to JOHN CONNELLY. P: ---------- M: ---------- E: ---------- .
Business Summary
Key Investment Insights
1. Rare freehold going concern offering, recently built post-earthquake, presenting a modern motel asset in Christchurch.
2. 22-unit mix catering to all sectors of the market, providing diverse revenue streams and market appeal.
3. Prime Riccarton Road location, a stone’s throw from Bush Inn Shopping Centre and close to Westfield Mall, supporting strong transient and retail-driven demand.
4. Extremely close to the University of Canterbury, enabling consistent student, visiting academics and family accommodation demand.
5. Surrounded by a wide variety of dining options, enhancing guest experience and walk-in appeal.
6. Complete recent refurbishment, presented like new, reflected in rave guest reviews and likely lower near-term capital expenditure.
7. Managers’ residence included, three bedrooms on ground floor with three toilets including master ensuite, and internal access to a double garage, supporting on-site management and staff convenience.
8. Significant land value implied by the relatively high land value area, adding long-term asset upside beyond trading performance.
9. Replacement construction costs likely exceed asking price, indicating potential intrinsic value in buildings alone given recent building cost increases.
10. Leasehold interest is available separately with an ingoing price of $1.2 million, providing alternative purchase structures for buyers.
11. Some listing information is sourced externally and unverified; further details and confidential items require completion of a confidentiality agreement and review of the Information Memorandum.
