Freehold Investment Motel, ChristchurchListing: #CS00509
About this Business for sale in ChristchurchFreehold Investment Motel, Christchurch
LINK Business is delighted to offer the market another unique opportunity to purchase a freehold (land & buildings) motel property located in central Christchurch.
Reasons to buy:
- Relatively high profile location on Bealey Avenue
- Long remaining lease term of 24 years
- Conventional design and construction
- Favourable investment price bracket
- Strong demand for motel investment property
- Strong tourist visitor numbers current and forecast
- At least 85% NBS (seismic rating)
The building comprises a two level, 14-unit plus three bedroom managers accommodation was constructed circa 2006. The 14 units comprise of two accessible studio units, eight standard studio units, four one-bedroom units.
Construction comprises a concrete foundation with concrete flooring to both levels. Exterior cladding concrete plastered concrete block walls, aluminium framed window joinery and pressed metal tile roofing. Other improvements include asphalt sealed carpark, paved courtyards, concrete block front fence and road signage.
A Detailed Engineering Evaluation dated March 2019 indicates the seismic strength of the building at 85%NBS.
As at 1 August 2016 the ratings valuation was:
Land Value: $690,000
Capital Value: $2,460,000
A copy of a registered market valuation dated 7 August 2019 is available upon request.
Bealey Avenue motel is situated on the northern side of Bealey Avenue on the northern fringe of central Christchurch. Bealey Avenue forms part of the “Four Avenues” roading system which surrounds the main CBD area and is a favourable motel location with a number of establishments mainly situated along the northern side.
Price plus GST (if any).
To find out more, press the “Enquire Now” button to complete an online confidentiality agreement.
***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.