Coffeys - Tourism Property Brokers ltd. | LREA

30 years in business. 1984 - 2014

Sought-After Investment in Riccarton Road

Christchurch

Reference: 1644

Land & Buildings $1,900,000

Two virtually equal titles makeup this half acre site. Wide Riccarton Road frontage with 11 single story motel units and an owners accommodation.

There is only 11 years left on this lease so the new owner will have options to extend the lease and recoup some of the purchase cost, let the lease run out or buy it out and find a better use for the land.

Because the property is made up of 3 one-bedroom units, 7 two-bedroom units, 1 studio unit and a three-bedroom owners residence, it could be a desirable option to let the units out to long term tenants.

Situated very close to the Canterbury University and halfway between the Bush Inn Centre and the Riccarton Mall, it could be a very desirable option for the surrounding workforce or University students.

This is a great option for a forward thinking investor and being on the market at very close to the Rateable Value it is a very good option.

We would welcome your enquiry on this investment motel for sale in Christchurch via this website or by phoning INKY STOVE on 0800 263339, DDI 03 550 0471 or 021 182 6940.

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