Five Forty on Great South Rd - Freehold Investment for sale
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| Property ID: | THL09-1006 |
| Property Type: | Motels, Managed Investment Property |
| Sale Type: | Freehold Investment |
| Region: | Auckland |
| Address: | 540 Great South Rd, Auckland New Zealand |
| Price: | $4.7m plus GST (if any) Freehold Investment |
Tourism Business Broker
| Phone: | 021 278 9200 |
| Mobile: | 021 278 9200 |
| Email: | tom.crawford@tourismproperties.com |
Carolynn Crawford
Tourism Business Broker
| Phone: | 021 247 8716 |
| Mobile: | 021 247 8716 |
| Email: | carolynn.crawford@tourismproperties.com |
Five Forty on Great South Rd, Auckland for Sale. Price $4,700,000 Freehold Investment - offering approx 8% Yield .
This Owner/Operated 4-star Qualmark rated property has been recently refurbished and upgraded.
The property comprises 27 top quality studio and one-bedroom units,
two bedroom Manager's apartment adjoining the office/reception area as well as 12 flats rented on a long term basis. Sitting on a section of approx 3,667 sq.m. the
motel and flats have a double street entry and is conveniently located in the heart of Otahuhu, with cafe's, bars, restaurants and shops just a few minutes walk away.
The owners have decided to sell the freehold investment (land and buildings) and keep the business confident in the property's ability to pay the rent. Annual rental
to the Lessor is $375,000 per annum + GST with a new 30 year lease to be drafted with the new Lessor.
This property is trading successfully and enjoys both corporate and leisure business. Its close proximity to Grange and Auckland Golf courses, Middlemore Hospital,
Auckland Spinal Unit, Manukau City, Telstra Clear Pacific Events Centre, Auckland Airport and the Sylvia Park/Mount Wellington Commercial hubs draws particular appeal as does its easy access to both SH1 and SH20 motorways.
