UNDER CONTRACT - FREEHOLD MOTEL PROPERTY INVESTMENT
Offering 29 years of a long term lease, this motel is located in the thriving tourist destination of New Zealand. Ideally positioned on the corner of Malfroy Road and Ranolf Street, and maintained in excellent condition, this is a great investment opportunity for the passive investor.
Key Details: • Freehold stand-alone motel investment • Freehold land area: 1847m² (495m² + 1352m²) • Net income: $65,000 plus GST p.a • Rent review: 3 yearly (next rent review 30 September 2020) • Lease term: 10y + 10y + 10y + 5y + 5y from 1st October 2008 • Final lease expiry: 30 September 2048 (if all ROR exercised) • All outgoings are paid by the tenant • The motel comprises well-presented eight guest units plus two bedroom owner's accommodation • Asking price: $1,500,000
Contact Sole agent for more information and for a viewing.