Total of 18657 firms and businesses for sale today Friday 29th March 2024
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Commercial Property For Sale. Motel Investment Hawkes Bay â?? Below Valuation

LISTING DETAILS
Firms For Sale ID:
31229
Vendor reference:
14436
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Asking price:
$575,000  
Turnover / revenue:
Undisclosed
Net profit / cashflow:
Undisclosed

OTHER DETAILS
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
 
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BUSINESS DESCRIPTION
The freehold (land and buildings) of an eleven unit motel in the Hawkes Bay is for sale for $575,000 (+gst if any). The motel is leased out and the rental is currently $60,000 +gst + outgoings (rates and insurance) giving a 10.4% return on Investment. The 30 year lease commenced in 2005 (23 years to run).

The motel is on 4058m2 of land and includes a 4 bedroom managerâ??s residence, 6 studio units, 4 x 2 bedroom units and a freestanding 2 bedroom unit. There is a double garage (9m x 6m) and a swimming pool.

There is a provision in the lease for two yearly rent reviews (market value) and a ratchet clause. The next rent review is 1 May 2013.

There is a maintenance fund of 5% of rental ($3,000) which is a provision towards the Lesseeâ??s maintenance responsibilities. A copy of the lease and a recent valuation is available to a serious purchaser.
The lease may also be available for someone wanting home and income investment in a lovely spot of the Hawkes Bay.