Secure your own employment, buy a business that offers a home and income. Own this business you will not be disappointed. Showing a high net profit. 16 unit High quality motel complex is on the market:
Long term lease expires 2050 with a realistic rental next rent review December 2024. Completely refurbished interior & exterior during Covid-19 Lockdown.
Comes with a 3 Bedroom managers dwelling with internal access lock up garage. The complex consists of 11 Studios, 5 One Bedroom units and 2 units with interconnecting access doors creating two bedroom units for larger families. Arrange to inspect the motel and talk price to the Vendor.
The complex is located near the CBD business area of Whanganui. Clientele is based around a strong corporate trade (no emergency housing). All units have heat pumps installed & microwave ovens, 6 units with spa baths. Linen cleaned by laundry company. Separate motel kitchen & laundry.
This would be an easy motel complex to manage with all units ground level plus you can move around the motel under cover from rain fall. The financials for the last financial year are very attractive, would be one of the better motels in the city.
As the motel was completely refurbished recently there is no deferred maintenance just buy and manage the complex. Vendor finance could be available subject to Terms and Conditions to be agreed upon.
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