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Freehold Home & Income in a Resilient Region of NZ
This Invercargill City Freehold Going Concern Motel is for sale for the first time in 17.5 years! The live-in owners of this freehold going concern are overdue for retirement, and we are under strict instructions to get this sold, so don’t delay – the region is resilient, the infrastructure works are proceeding, and this purchase gives you a home and income, that is freehold, not leasehold – act fast and call Adrian now!
This superbly located motel complex in Queens Drive is just a few minutes walk to the inner city retail prescient and the Southland Institute of Technology, which is also located in the Invercargill CBD zone.
This complex comprises a two level 4 bedroom owner/managers home plus the motel office, and 9 motel units , guest laundry, workshop and storage room.
Units 1, 2, 3 and 4 are attached to the owners home and the motel units are double glazed and serviced by infinity gas units to each motel.
Units 5,6,7 8 & 9 are situated on the northern side of the large approximately 1484m² site, have single glazing, and are serviced by individual electric hot water cylinders.
-4 x Studio units (Northern complex)
-3 x 1 Bedroom units (Southern complex)
-1 x 2 Bedroom unit (Southern complex)
-1 x 3 bedroom unit (Northern complex)
-4 x bedroom owners house and office (Southern complex)
(The downstairs comprises the office, lounge, dining , kitchen, bathroom and toilet, the upstairs comprises 2 double and 1 single bedrooms and a bathroom and separate toilet)
The owners are currently upgrading the bathrooms in units 5, 7 & 8 and these will be completed prior to settlement.
The roof of the complex has been replaced and is relatively new.
In the last 12 months this motel complex has averaged $30,000 plus GST revenue per room and profit before depreciation is approximately $17,500 per room.
The purchase price of $1,450,000 as a freehold going concern is plus GST if any, but as a going concern business, the GST would be zero rated.
The live-in owners of this freehold going concern are overdue for retirement, and want this sold today, so please contact Adrian urgently to view this significant Invercargill Motel complex.
For more information or to arrange your viewing, please contact specialist Accommodation Business Broker, Adrian Chisholm, Areinz.
Real Property Included
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