Westport, South Island
Been to Westport lately? Have a look at this!
Land, Buildings and Business Offers Over $2.2m
Business Description
Huge potential here for the right operator! A lot of property and potential profit for this money!
This is a seriously good opportunity.
Great central location sited on over 4,000 square metres, 27 hotel rooms, 80 to 100 seat restaurant, three bars including conference room and 28 car parks. Liquor store currently on short-term lease to reliable operator, happy to stay on.
Buildings have been brought up to 67% NBS and the rooms are well presented. This part of town was not subject to flooding.
This property is offered well below rateable value for the land and buildings alone by motivated absentee vendors, because it currently is not operating. As such, recent financial performance information is not available. We are able to provide spreadsheet projections on the accommodation side of the business, illustrating various revenue and profitability scenarios.
The town of Westport has gone from strength to strength in recent times. It now seems to have quite a vibe and has plenty more potential. Recent performances for other accommodation businesses we have dealt with show the steady and growing business being enjoyed here.
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. Any boundary lines shown on an image are indicative only.
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 projections disclaimer, included in the Information Memorandum.
We would welcome your enquiry via this website or direct to KELVYN COFFEY.
Business Summary
Key Investment Insights
1. Property sits on over 4,000 square metres, offering significant land scale and development flexibility.
2. Accommodation component comprises 27 hotel rooms, with rooms described as well presented.
3. Food and beverage capacity includes an 80 to 100 seat restaurant and three bars, one configured as a conference room.
4. Liquor store on site is on a short-term lease to a reliable operator, with tenant willing to remain; provides immediate income potential.
5. On-site parking includes 28 car parks, supporting guest and event capacity.
6. Buildings have been upgraded to 67% NBS, indicating moderate seismic strengthening.
7. Property location is central in Westport, in an area not subject to recent flooding.
8. Offered well below rateable value for land and buildings alone by motivated absentee vendors, indicating potential purchaser value uplift.
9. Currently not operating, therefore recent financial performance is unavailable; vendor can supply spreadsheet projections for accommodation revenue and profitability scenarios.
10. Local market trends are positive; Westport is described as gaining vibrancy and recent comparable accommodation performances show steady growth.
11. Some listing details are confidential and require completion of a projections disclaimer to access the Information Memorandum, which is available from coffeys.co.nz.
12. Certain data in the listing may have been sourced from third parties such as RPNZ, Property Guru and LINZ and has not been independently verified.
