4 Star Plus in every way!
About this business for sale in Marlborough4 Star Plus in every way!
Broadway Motel, located in the thriving seaside town of Picton, has wonderful street appeal, a contemporary image and offers superior accommodation. This motel will attract investors looking for an attractive income along with a stable business.
Reasons to buy:
- High profile location
- Long lease tenure
- Trip Advisor 'Certificate of Excellence' winners 2013 - 2016
- Qualmark rated 4 Star Plus
- Net income has risen consistently over the last 4 years
- Occupancy 'best in class'
- Excellent mix of units
The complex has 18 units, all with quality fittings, double glazing and air-conditioning, comprising of:
- 5 * 1 bedrooms
- 2 * 2 bedrooms
- 11 * studios
The owner's residence has a large master and single bedroom, spacious lounge, dinning and full kitchen. Bathroom with shower and bath plus separate toilet and laundry. A unique feature of the residence is internal access to a “one bedroom family unit” which sleeps 4, separate bathroom with shower and separate toilet plus a large balcony. This unit can be used for the owner's family or used as guest overflow or motel minders. It is extra to the 18 units. Garaging is a single garage.
Broadway Motel is a short stroll to Picton's main street cafes and bars, waterfront, inter island ferry terminal and railway station. It is also close to a major supermarket.
Picton is the starting point for explorations of the Marlborough Sounds and gateway to the South Island. Picton is also a convenient stopping off point for travelers leaving and arriving on the popular Interisland ferry. The ferry operates between Wellington (NZ’s capital city) and Picton and carries an estimated 1 million passengers annually.
Tourism in NZ is now a major export earner and experiencing tremendous growth. International tourism spend is expected to reach $15 billion in 2023, up 52 per cent from 2016. (MBIE, 12 May 2017). Take the opportunity now to invest in this growth sector.
+64 9 579 9226
+64 21 177 9760
*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.