Retain or Redevelop!
209, Valley Road, Mount Maunganui, Tauranga
- Proposed Usage
- Floor Area
- 642.00 m²
- Land Area
- 1561.00 m²
- Auction Date
- 13:00 - Oct 30, 2019
- Property ID
- Freehold going concern motel
- Long established 7 unit complex
- Includes spacious managers residence
- Prime corner site with huge potential
- Sought after central Mount Maunganui location
Built in 1967, this 1,561sqm motel site was chosen for its close proximity to the beautiful Mount Maunganui surf beach and today 50 years on the Blue Wave Motel continues to be as popular as ever for this very reason.
The property currently provides a home and income with the motel having a high occupancy rate and returning an attractive annual net surplus. The complex has recently been refurbished ensuring future maintenance for a new owner will be minimal.
Being positioned on the corner site of Valley Road and McDowell Street makes it easy to subdivide, whereby there may be potential for up to four freehold sites. Alternatively this would be a great land bank site with a healthy holding income.
This is an exceptional opportunity to acquire a prime coastal property positioned in what is arguably one of the major growth locations in New Zealand. Seldom do properties with such potential come to the market in Mount Maunganui!