Torlesse Motels In Little Kaiteriteri For Sale

Business description

For the first time in 12 years the Torlesse Coastal Motels in Little Kaiteriteri is on the market. Situated on a hill, just 200m from one of the South Island's Iconic Beaches and overlooking Tasman Bay the opportunity to purchase an established business in such a prime location is a rare one.

This 11 unit motel has a history of consistent revenues and repeat business. With over half of the units offering one and two bedroom options there is great opportunity to generate good yields through the ability to accommodate additional people. Most of the units feature magnificent views from their own balconies and include self contained kitchens and laundries. The Motel also features a well appointed BBQ area and Spa Pool.

The property encompasses 4 titles and the vendor has indicated that there could be some flexibility in the sale process if sold in the following order:

1. The motel portion of this property is comprised of 2 titles encompassing approx 3915sq metres. The property is zoned tourist/commercial use and contains the main Motel buildings along with the office and managers 3 bedroom apartment. Price: $2,700,000.00 + GST (if any)

2. The second area has residential zoning as the title of approx 560sq metres was a later acquisition. Improvements on this title comprise of a 2 storey dwelling that is currently forming part of the motel complex and is let as a 2 bedroom penthouse upstairs and a studio on the lower level. This building could easily be utilised as owners accommodation/office with the existing managers apartment/office being put back into the letting pool. Price: $600,000.00 + GST (if any).

3. The third part of this sale is a bare block of land covering approx 920sq metres at the top of the property which also has seperate title and residential zoning. All resource consents and access covenants are in place. Price: $350,000.00 + GST (if any).

Kaiteriteri as a destination has always been one of the country's favourite holiday destinations and attracts many visitors both domestic and international. The growth in local attractions has also seen a wider range of facilities become available to cater for the increase in visitor numbers.

Property information

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