Coffeys - Tourism Property Brokers ltd. | LREA

30 years in business. 1984 - 2014

Best Position, Best Presentation

Ashburton

Reference: 1704

Business Lease $899,000

It is a pleasure for us to bring to the market this 17 unit (4.5 Star) very well maintained motel. All units are very well presented, with top level chattels and modern fitting and fixtures. There is absolutely no immediate maintenance to do on this property.

Its 17 units range from studios to three-bedroom, so has the facility to cater for any accommodation requirement. The large purpose-built conference centre is a very good addition to the business.

Ashburton is primarily a farming service centre and when the farmers do well, so does the township. The ever increasing tourism numbers is a bonus for Ashburton, as their steady income is from the farming community.

The earthquakes in Christchurch and Kaikoura and a steadying of the farming community has seen a downturn in the last three years, but with the reopening of the Kaikoura road by Christmas, we expect this will reverse the effect it had on the Christchurch and Ashburton markets. The farming community are also showing a good recovery to the extent that this years current trading from 1 April has risen by $4,000 per month, quickly bringing the income back to where it historically has been.

The motel business has a long lease with reviews only every three years. The latest review has recently been completed; therefore the next rent review won't be until November 2019.

This is a solid well-presented property and will always be prominent in the market, so do not miss this chance to write your chapter in the history of this business.

We would welcome your enquiry on the Business Lease at $899,000 of this Motel for sale in Ashburton via our website or by phoning INKY STOVE on 0800 263339, DDI 03 550 0471 or 021 182 6940.

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