Established freehold investment - 27 year lease
2, Walton Avenue, Warkworth, Rodney
- Proposed Usage
- Floor Area
- 1770.00 m²
- Land Area
- 3819.00 m²
- Property ID
This highly passive investment is on the open market for the first time in 40+ years. The property is fully leased returning $161,050 + GST p.a.
Trading as Walton Park Motor Lodge, an established 26-room motel with a 4-star rating and extensive amenities, including a pool, laundry, commercial kitchen, bar, conference centre and owners accommodation.
The property has a long trading history as a convenient North-Auckland motel benefitting from a recently renewed 27 year lease term with 25.5 years remaining. The lease includes a full Personal Guarantee from a well-capitalised tenant.
Located in Warkworth, a growing township soon to benefit from the Puhoi to Warkworth motorway extension expected for completion in 2022. The property is strategically positioned on a rare corner site with four frontages, including State Highway 1.
Located a short walk from Warkworth's town centre, this passive investment is well poised for future development. The property is underpinned by 3,819sqm of freehold land and benefits from Residential - Single House zone, providing future development opportunities.