Proposed 28 Unit Motel, Prebbleton, ChristchurchListing: #CS00584
About this Business for sale in ChristchurchProposed 28 Unit Motel, Prebbleton, Christchurch
Prebbleton Motel, to be located in the suburb of Selwyn, Christchurch, is an exciting new 28 unit development with the business lease being offered for sale. The motel is part of a new residential/retail/business and tourism accommodation development.
Reasons to purchase:
- Brand new spacious 28 room motel
- Long term lease (40 years)
- Offering a turnkey solution with some input from new lessee
- First 6 months rent free and rent tiered for first 3 years
- Part of a larger multi-development
- 2 new large retirement villages are underway/planned in Prebbleton
- Prebbleton is likely to be very popular with domestic travellers
- Will be the only motel in Prebbleton!
Architecturally designed and purpose built to a high standard with double glazing throughout, the complex is situated on levels 1 and 2, with reception on the ground floor and lift access to both floors. Each spacious studio unit is 34m2 (approx) and can sleep up to 4 guests. Plenty of off-street parking.
The manager’s apartment is a spacious 2-bedroom apartment with a large balcony for outdoor living.
The majority of the site comprises bare land. Within the site and to be incorporated into the development is Prebbleton Hotel, owned and operated by the developers, Marie and Merwyn since 1972. The hotel incorporates Finnegan’s Irish Bar, several conference rooms and a bottle store. It has been Marie and Merwyn’s intention to develop the site for many years!
The multi-level development will incorporate residential/retail/commercial and tourism accommodation as follows:
- 28 unit motel
- Medical Centre (lease under negotiation)
- Pharmacy (lease under negotiation)
- Movie theatre
- Large courtyard with plans for a farmer’s market
- Residential apartments
Planned start date for the development is in 2021 with estimated completion early 2022. The vendors intend to complete the whole development at the same time to avoid interruption from construction activity and hence an orderly start for all the new businesses.
Prebbleton is located in the Selwyn district of Christchurch. It is 11km southwest of the centre of Christchurch. The village has experienced considerable growth with several subdivisions built in the last two decades. The total population of the Prebbleton township increased by 62.8 per cent between 2013 and 2018, to 4,515 residents.
Prebbleton Village, which has been in existence for over 140 years, is one of the earliest settlements on the Canterbury Plains. The fertile land surrounding the village was farmed to grow arable crops and feed dairy cows. Although now surrounded by orchards, olive groves, race-horse stables and intensive horticulture, Prebbleton retains the traditional village character just 10 minutes from the facilities of Christchurch.
The village, which is regularly served by public transport, has extensive sporting and community facilities, is close to Lincoln and Canterbury universities and high schools, and has its own primary school and early childhood centres. The motel is located in the heart of the village and is adjacent to a brand new Fresh Choice supermarket. Other facilities close by are multiple wedding venues, Ruapuna Speedway and the Air Force Museum of NZ, rated #4 of 226 things to do in Christchurch by Tripadvisor.
Retirement Villages in Prebbleton
There are currently 2 large retirement villages planned for Prebbleton. The first village known as the Bupa Ashford Retirement Village and Care Home, will comprise 101 villas, a 56-bed care home and 16 serviced apartments. The first stage is planned to be completed late 2020 and ready for sale in early 2021.
The second village by Summerset is in the resource consent stage. Summerset Prebbleton will be home to around 370 people, living in villas, townhouses and an aged care centre.
This is a unique opportunity for an experienced motel operator to purchase a new motel business and introduce their own successful motel operating model in order to maximise this potentially very profitable business.
To find out more, go to linkbusiness.co.nz/CS00584 and press the “Enquire Now” button to complete an online confidentiality agreement.
Jono Jarvis, 021 177 9760, firstname.lastname@example.org
***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.
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*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.