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A new day dawns for the ‘Sunrise Motel’ which is undergoing extensive refurbishment and strengthening work.
After a change in direction, the commitment has been made by the owners to sell down one of the properties in their portfolio. This opportunity is offered up for sale, but it may not last.
Being sold with vacant possession, an astute buyer can purchase this ‘brick and mortar’ freehold property. Build the business up for cashflow or on-sell the business and keep the investment nest egg. Along with moteliers, given the size and scale of the property, this offer could suit add-value investors, community and social housing providers, land bankers, or developers.
Located within walking distance to the CBD, this property offers easy access to supermarkets, shops, river walks, and Waikato Stadium.
Ulster Street is known as Hamilton's 'Motel Mile' and is recognised as a blue-chip investment location. Sunrise Motel features 13 brick and aluminium units and a favourable single-level construction.
Situated on a large, flat 2,039sqm freehold title, zoned high-density residential, this may lead to future redevelopment opportunities. A rare zoning overlay here supports visitor accommodation in NZ’s fastest-growing region. Hamilton City requires more quality short-term accommodation, providing the buyer with great prospects.
All the refurbishment work is to be completed by the current owners before settlement.
A strategic investment the buyer of this asset could benefit from long-term gains and substantial cashflow.
Call the exclusive agent, Vaughan Heslop, today for further information