Stunning Picton MotelListing: #EL00845
About this Business for sale in MarlboroughStunning Picton Motel
Broadway Motel is a 4 Star Plus motel, located in the thriving seaside town of Picton and offers a wide range of modern, spacious units with a real contemporary feel. This motel offers investors a stable and growing income.
Reasons to buy:
- Trip Advisor 'Certificate of Excellence' winners 2013 - 2017
- High profile location
- Long lease tenure
- Qualmark rated 4 Star Plus
- Net income has risen consistently over the last 6 years
- 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.
To find out more, press the “Enquire Now” button to complete an online confidentiality agreement.
+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.