Christchurch Central, South Island
Modern - High Profile - Rare FHGC 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 via this website or direct to JOHN CONNELLY.
Business Summary
Key Investment Insights
1. Freehold going concern offered, described as a rare FHGC opportunity.
2. One of Christchurch's newest motels, built post-earthquake on sought-after Riccarton Road.
3. Leasehold interest available separately at an ingoing price of $1.2 million.
4. 22-unit complex, good mix of room types catering to all market sectors.
5. Prime location a stone's throw from Bush Inn Shopping Centre, close to Westfield Mall.
6. University of Canterbury a few minutes' walk away, surrounded by diverse dining options.
7. On-site managers' residence with three ground-floor bedrooms, three toilets including master ensuite, and internal access to a double garage.
8. Recently totally refurbished, presented like new, generating rave guest reviews.
9. Located in a relatively high land value area, suggesting strong underlying asset value.
10. Significant recent increases in building costs imply replacement cost of buildings alone would likely exceed the asking price.
11. Sale encompasses land and business/chattels, with some listing details confidential and requiring an executed confidentiality agreement.
12. Information memorandum available from coffeys.co.nz, enquiries directed to John Connelly; some sourced information not independently verified.
