Newmarket Hotel - 10 year lease

9, Manukau Road, Newmarket, Auckland City

Tender

Proposed Usage
Hotel & Leisure
Floor Area
1725.00 m²
Land Area
1103.00 m²
Description:
Property ID
1c3cy2k

Bayleys Real Estate is pleased to offer for Sale by International Tender, 9 Manukau Road, Newmarket, Auckland.

Key Investment Details:

• Freehold standalone 63 room hotel
• 10 year lease to award winning accommodation and tourism tenant
• Returning $578,596 + GST p.a. with fixed increased to approximately $740,000 + GST p.a. in December 2020
• Strategic location with easy access to Auckland Airport, Central Newmarket and Auckland CBD
• Available for purchase individually or as part of 4 property portfolio

9 Manukau Road comprises a five level freehold standalone building which in 2017 underwent an extensive refurbishment and is now leased to 'Haka Hotel' a 3 star hotel offering 63 rooms including a managers suite.

The property is subject to a 10 year lease currently returning $578,596 + GST p.a however will increase to a minimum of $738,596 + GST p.a. in December 2020.

The property is located in a highly convenient position on Manukau Road on the border of Epsom and Newmarket. It also has the benefit of being close to the main commercial area of Newmarket and Broadway, and is within close proximity to Central Auckland. The property is well located for access to Auckland CBD and International airport, which is located approximately 20 minutes' drive away, making this position ideally suited to the needs of travellers and tourists.

9 Manukau Road is available for purchase individually, or as part of a 4 property investment portfolio, details of which can be found at: www.bayleys.co.nz/1686639

For further information, please contact the below Sole Agents:

Nick Thompson
027 600 4712
nick.thompson@bayleys.co.nz

James Chan
021 934 054
james.chan@bayleys.co.nz

Damien Bullick
022 420 6845
damien.bullick@bayleys.co.nz.

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Newmarket Area