Whangarei, North Island
Hard to Find Motel Freehold Investment
Land and Buildings $1,950,000
Business Description
Located within walking distance of Whangarei City Centre this motel has a good lease in place (expires in 2043) with two-yearly rental reviews.
The property has 10 units, which include 5 x standard studio units, 1 x large studio unit, 3 x 1-bedroom units and 1 x 2-bedroom unit and caters to a good mix of clientele.
Located above the office the owner's residence has two full size bedrooms and a smaller bedroom with comfortable living space. Major renovations and upgrades have been completed on the property.
Some vendor finance available to a suitably qualified buyer.
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 on the Land and Buildings of this Motel for sale in Whangarei via this website or direct to CHRIS WONG.
Business Summary
Key Investment Insights
1. Freehold motel investment, includes land and buildings for sale in Whangarei.
2. Walking distance to Whangarei City Centre, providing strong location appeal for guests.
3. Secure long-term lease in place until 2043, with two-yearly rental reviews offering income stability and indexation.
4. Ten units in total, comprising 5 standard studios, 1 large studio, 3 one-bedroom units and 1 two-bedroom unit, allowing varied guest mix.
5. Property caters to a good mix of clientele, indicating diversified demand sources.
6. Owner’s residence located above the office, featuring two full-size bedrooms plus a smaller bedroom and comfortable living space, useful for onsite management.
7. Major renovations and upgrades completed, reducing near-term capital expenditure requirements.
8. Some vendor finance available to a suitably qualified buyer, potentially easing acquisition funding.
9. Sale includes both land and buildings, stated explicitly as available for enquiry.
10. Certain listing details are confidential and require a signed confidentiality agreement to access, indicating additional information is available to serious buyers.
11. Information Memorandum available for download from coffeys.co.nz, facilitating due diligence.
12. Some listing information sourced from RPNZ, Property Guru and Land Information New Zealand has not been independently verified, buyer verification recommended.
