Freehold Investment, Whangarei
About this business for sale in WhangareiFreehold Investment, Whangarei
Freehold Investments seldom come to market. Stonehaven motel has a long lease in place (expires 2043) and two-yearly rent reviews.
The property has 10 units comprising of 6*studio units, 3 x 1-bedroom units and a 2-bedroom unit. The owner's residence is located above reception and has 3 bedrooms and a convenient living space.
Stonehaven Motel is located in a quiet residential area, only a short stroll to the Whangarei city centre, sports fields, local high schools, Kensington Hospital and local supermarkets.
Growth in Tourism
Tourism for NZ is now a major export earner and is experiencing tremendous growth. Visitor arrivals to New Zealand are expected to grow 4.6 per cent a year, reaching 5.1 million visitors in 2024 (from 3.7 million in 2017). Total international spend is expected to reach $14.8 billion in 2024, up 40 per cent from 2017. (Source: MBIE May 2018). The purchase of Stonehaven Motel is an excellent opportunity to take advantage of this growth. A new owner will be purchasing a freehold investment with a stable and potentially attractive growing income, further enhancing the value of the investment.
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***Some details of the business for sale are confidential and can only be disclosed upon contacting the broker and a completion of a Confidentiality Agreement. Due to the confidentiality of this business a stock photo image may be used to represent the business. Please contact the broker for further details.
+64 3 366 3394
+64 21 177 9760
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.