> 8% Holding Return, Large FHGC Motel Site

City Centre, Auckland City

By Negotiation

Proposed Usage
Hotel & Leisure
Floor Area
765.21 m²
Description:
Property ID
1c3x7w0

Details:
Land Area: 3,132 sqm (more or less)
Floor Area: 761 sqm (more or less)
Rooms: 24 plus 1 three-bedroom manager accommodation

Key Investment Details:
•Selling as Freehold Going Concern
•Large freehold site of 3,132sqm with only 765sqm building above
•24 guest rooms and a 3-bedroom manager accommodation provides sizeable income
•Complete internal rebuilt and fully furnished in 2016 leading to low maintenance to the motel
•Rated for the best value in Auckland motel market
•Quality building with a "A" grade IEP rating
•Strong financial performance
•Zoning mixed-housing urban providing superb re-development opportunity to generate solid income, or simply adding rooms in this underdeveloped large site.

A rare opportunity to secure an immaculate FHGC motel investment in Central Auckland. The motel is well presented in the busy Ellerslie Panmure Highway, easy connecting Auckland CBD and airport with only around 2.5km access to the ramps to the Northern and Southern Motorway.

This position is handy to the amenities and large-scale organizations such as bustling Ellerslie Shopping Centre, St John Ambulance Centre (900m), the new Panmure Railway Station (1.2km), Ellerslie Town Centre (2.4km) and Sylvia Park Shopping Centre (3km).

The motel is a purpose-built complex comprising a two level "L" shaped structure with attached single level reception and three-bedroom manager's accommodation. It was fully refurbished in 2016 to a high standard: freshly painted throughout, new carpet tiles laid, privacy glasses, upgraded bathrooms, kitchenette, flat screen TVs, heat pumps, and quality furniture. The motel also offers generous car parking and a well-equipped laundry. There are also potentials from unutilised commercial kitchen, a conference room and sauna.

With this wonderful location, the motel, offering 24 generous sized rooms with a good mix of studio, one-bedroom and two-bedroom units, caters for both single travelers, families, groups for the purpose of vacationand business. .

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City Centre Area