Dunedin Central, South Island
George St Dunedin. 20 Unit Motel. 22 Year Lease
Business Lease $1,150,000
This is a very well-known and visible motel that is situated close to the hospital, University of Otago and city centre. Four-star complex where the operator can offer a good mix of room types for the sole traveller through to large groups. Spacious rooms with all modern conveniences. The property is popular with both corporate and domestic market segments and caters well for larger groups. Guests can leave their cars safely parked off the street and stroll to the city for an evening meal, as this is only a short walk.
Land and buildings would be available if looking for a freehold going concern.
Dunedin enjoys enviable occupancy levels and has done for some time. This is due to the many events held in the city, and the requirement for visiting relatives due to the hospital, Otago University and in general, the amount of corporate business transacted on a daily basis. This makes accommodation businesses desirable in this location.
Dunedin has always been a well performing motel market, however now with the construction of the new Dunedin Hospital to commence, this should provide additional stimulus with the influx of workers and associated trades, estimated to be expected for up to 8 years. KiwiRail with its workshop redevelopment is the result of significant Government funding to build a wagon assembly facility and replace the mechanical workshop.
A three-bedroom spacious owners residence situated at the back of the complex with an attached reception. Private area with a tiled patio overlooking a small lawn and workshop/storage shed.
Some details of this listing are confidential and can only be disclosed upon completion of a confidentiality agreement, included in the Information Memorandum available on our website.
We would welcome your enquiry on the Business Lease of this Motel for sale in Dunedin via our website or by phoning DEREK JOHNSON on ---------- , DDI ---------- or ---------- .
Key Investment Insights1. Well-known and visible motel situated close to the hospital, University of Otago, and city centre.
2. Four-star complex with a good mix of room types for solo travelers and large groups.
3. Spacious rooms with modern conveniences.
4. Popular with both corporate and domestic market segments.
5. Safe off-street parking available for guests.
6. Short walk to the city for dining options.
7. Land and buildings available for purchase.
8. High occupancy levels in Dunedin due to events, visiting relatives, and corporate business.
9. Desirable location for accommodation businesses.
10. Additional stimulus expected with the construction of the new Dunedin Hospital and KiwiRail workshop redevelopment.
11. Three-bedroom owners residence with attached reception.
12. Private area with a tiled patio and small lawn.
13. Workshop/storage shed on the property.
14. Confidential details available upon completion of a confidentiality agreement.
15. Information Memorandum available on the website.
16. Enquiries welcome via website or phone.
17. Contact person: Derek Johnson.
18. DDI and phone number provided for contact.
19. 22-year lease available for the business.
20. Opportunity for potential growth and success in a well-performing motel market.