0800 263 339

Sought-after Motel Land and Building Investment

Hokitika
Reference: 3879
Motel / Motor Lodge
Land and Buildings $1,995,000

This is a rare opportunity to purchase a passive commercial investment in the motel industry. The property is presented in excellent condition and constructed of low maintenance materials.

COVID 19 UPDATE. This business continues to trade well. When the lockdown was announced, the building owner and the operator agreed to a two-month rental reduction. The business is now back to paying full rental as of June 2020. This attests to the strength of the operation given the current circumstances.

In conjunction with the commercial investment, the adjacent residential rental property on 921 sqm is offered for sale at $200,000 including GST. It is currently rented at $330 per week. This provides the owner with the opportunity for possible future expansion of the motel and to a certain extent, better control over the immediate neighbour to the business.

An excellent mix of units, with the large land area of 1824 sqm affording the luxury of being all ground floor. The complex was entirely refurbished throughout 2006 and early 2007 and four new studio units were built at that time.

The business is prospering in the hands of a very capable operators, as evidenced by guests' accolades, including consecutive TripAdvisor Certificates of Excellence.

Secured by a long-term registered lease with a conservative market rental, should provide good upside for the future.

Please be aware that some of this information may have been sourced from RPNZ/ Property Guru/ Land Information New Zealand and we have not been able to verify the accuracy of same.

We would welcome your enquiry on the Land and Buildings of this Motel for sale in Hokitika via our website or by phoning KELVYN COFFEY on 0800 263339, DDI 03 550 0459 or 027 432 0565.
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Kelvyn Coffey

Kelvyn Coffey has specialised exclusively in the sale of commercial accommodation businesses since 1984, with the forming of a company then known as South Island Motel Brokers Ltd. The business enjoyed success in the industry throughout the 1980's, with expansion of its activities into hotel brokerage (pubs and taverns) and later general business brokerage.

Having sold his interests in that agency, (which still operates today under a different name) he formed this company in 1995. The reason being that he wished to re-focus on specialising exclusively in travellers’ accommodation businesses. In 1996, he was appointed as the South Island consultant to the Motel Association of New Zealand.

For many years, he provided advice and information to Motel Association of New Zealand members as part of the benefit of their membership.  MANZ merged with Hospitality New Zealand in 2015.   HNZ continues to receive many questions on matters relating to leases, rentals, market trends etc., and he is happy to receive and assist with a steady number of enquiries from the team at HNZ.

Kelvyn also sits on the Industry Advisory Group to the Real Estate Authority for Business Brokerage. The REA is the government body controlling and regulating the Real Estate Industry. They seek advice and feedback from the group, which meets with the authority twice yearly, and consults when required.

From small beginnings in the South Island in 1984, (in those days no one had heard of a specialist “motel broker”), Kelvyn is proud to now run a nationwide company with a brand that is well recognised and respected within the industry throughout New Zealand.  He appreciates his good fortune in having been able to build a team of dedicated and professional brokers with support crew second to none.

Kelvyn has seen the economic highs and lows and is happy to share his experience with anyone contemplating entering the business. He lives in Christchurch, happily married to Colleen since 1988, with four (now adult) children. When time permits, hobbies include cycling (no lycra), snowboarding, photography, reading and hi-fi.

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