Amalgamated over time by a single entity, the commitment has been made by the owners to sell down this portfolio of properties.
An astute buyer can purchase as a freehold going concern. Given the size and scale of the property, this offer could suit add-value investors, community and social housing providers, family trusts, land bankers or developers looking to create a comprehensive master-planned community on the 4787sqm site held in five freehold titles.
While the complex has benefited from significant investment over recent years, including seismic strengthening to the motel and the addition of eight modern new units, significant scope to add value remains via refurbishment.
Operating as short-term visitors’ accommodation the 38-unit motel includes a separate manager’s residence adjacent and is coupled with ancillary houses which complement the service offer by providing for longer term stays.
A high-profile site, visible to circa 29,000 vehicles passing per day, this is a location on which to build a brand and goodwill. The prospects here are obvious given the huge investment and reinvigoration underway within the CBD and the location acting as a main gateway on the arterial route between the CBD and the suburbs to the north. This asset will ride the wave of significant projects underway and in the pipeline in the city, the fastest-growing centre in New Zealand.
The selling process allows you to buy all of these properties or a part thereof.