Christchurch Central, South Island
New Lease Riccarton Rd - 22 Units - High Profile
Business Lease $1,200,000
Business Description
This is an opportunity to acquire a new 35-year lease of one of Christchurch's newest motels, built post-earthquake in this sought after section of Riccarton Road. (The Freehold Going Concern, including the business, is available at an asking price of $6 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.
Has there ever been a better time to buy an accommodation business in Christchurch?
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. New 35-year lease for a recently built post-earthquake motel on Riccarton Road, offering long-term security of tenure.
2. Freehold going concern option available, asking price $6 million.
3. 22-unit configuration, described as a good mix catering to all market sectors.
4. Prime high-profile location a stone’s throw from Bush Inn Shopping Centre and close to Westfield Mall.
5. University of Canterbury only a few minutes' walk away, supporting consistent student and visitor demand.
6. Surrounded by a wide variety of dining options, enhancing guest experience and walkability.
7. Recently totally refurbished, presented like new, supporting strong first impressions and reduced near-term capital expenditure.
8. Positive guest feedback noted as "rave reviews," indicating strong operational reputation and repeat business potential.
9. On-site managers' residence with three ground-floor bedrooms, master ensuite, three toilets total, internal access to a double garage, suitable for live-in management.
10. Situated in a relatively high land value area, implying asset value upside beyond trading returns.
11. Information Memorandum available from coffeys.co.nz, with some details confidential and released upon completion of a confidentiality agreement.
12. Positioned within Christchurch's accommodation market recovery narrative, framed as a timely buying opportunity.
