Key Investment Insights
AI generated. Confirm details with the seller.
1. 15-unit freehold going concern, modern and well-established accommodation business with consistent and growing income, and stated strong future upside.
2. Opened in 2018, the newest motel in Hokitika and on the West Coast, likely to remain the newest for the foreseeable future.
3. Units are located off the main road, offering a quieter outlook while remaining within walking distance to the heart of Hokitika.
4. Exceptional separate owners’ residence, four bedrooms plus study, situated on a 903 square metre site, described as unusually high standard for a motel operation.
5. Separate attached one-bedroom unit of approximately 57 square metres that could be added to the letting pool to increase accommodation income.
6. Purchase flexibility, with the option to buy without the large house and for the operator to reside in one of the two-bedroom units.
7. Insurance replacement cost for the motel buildings alone is stated to be considerably higher than the asking price, indicating significant built asset value.
8. Replacement cost comment implies additional value beyond asking price for land, chattels, and business goodwill.
9. Some listing details are confidential and require completion of a confidentiality agreement to access full information.
10. An Information Memorandum is available for download from the seller’s website coffeys.co.nz.
11. Certain information has been sourced from RPNZ, Property Guru and Land Information New Zealand and has not been independently verified by the seller.
12. Enquiries are to be made via the website or directly to Kelvyn Coffey.
