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Property Ref: 26689

Ashlar Motel, Freehold Going Concern For Sale in Invercargill

Property Type: Commercial Real Estate, Motels

Sale Type: Freehold Going Concern, Urgent Deadline Sales

Region: Southland

Physical Address: Ashlar Motel Queens Drive, Richmond, Invercargill, New Zealand

Price: FREEHOLD GOING CONCERN, asking $1,450,000 +GST if any

Broker: Adrian Chisholm

Mobile: +64 21 727 888

Email: adrian@tourismproperties.com

Commercial Real Estate & Property For Sale in Invercargill – Act Fast!

Invercargill City Freehold Going Concern Motel or Residential Conversion accommodation complex for sale for the first time in 17.5 years!

This superbly located motel complex in Queens Drive is just a few minutes walk to the inner city retail prescient and the Southland Institute of Technology, which is also located in the Invercargill CBD zone.

This complex comprises a two level 4 bedroom owner/managers home plus the motel office, and 9 motel units , guest laundry, workshop and storage room.

Units 1, 2, 3 and 4 are attached to the owners home and the motel units are double glazed and serviced by infinity gas units to each motel.

Units 5,6,7 8 & 9 are situated on the northern side of the large approximately 1484m² site, have single glazing, and are serviced by individual electric hot water cyclinders.

COMPLEX CONFIGURATION:

  • 4 x Studio units (Northern complex)
  • 3 x 1 Bedroom units (Southern complex)
  • 1 x 2 Bedroom unit (Southern complex)
  • 1 x 3 bedroom unit (Northern complex)
  • 4 x bedroom owners house and office (Southern complex)
    (The downstairs comprises the office, lounge, dining , kitchen, bathroom and toilet, the upstairs comprises 2 double and 1 single bedrooms and a bathroom and separate toilet)

The owners are currently upgrading the bathrooms in units 5, 7 & 8 and these will be completed prior to settlement.

The roof of the complex has been replaced and  is relatively new.

In the last 12 months this motel complex has averaged $30,000 plus GST revenue per room and profit before depreciation is approximately $17,500 per room.

If purchasers were considering conversion to a residential flat complex, the complex would be sold PLUS GST and the 13 bedrooms in the complex would therefore be approximately $111,000 each bedroom plus GST.

The purchase price of $1,450,000 as a freehold going concern is plus GST if any, but as a going concern business, the GST would be zero rated.

The live-in owners of this freehold going concern are overdue for retirement, and want this sold today, so please contact Adrian urgently to view this significant Invercargill Motel complex.

For more information or to arrange your viewing, please contact specialist Accommodation Business Broker, Adrian Chisholm, AREINZ, on 021 727 888 or email Adrian@tourismproperties.com.


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26689 | Ashlar Motel FHGC For Sale | Financials

26689 | Ashlar Motel FHGC For Sale | Comprehensive Title

26689 | Ashlar Motel FHGC For Sale | Title

SUMMARY FROM ONLINE REVIEW PORTALS

Website

Total Reviews

Average Rating

Trip Advisor. com

33

3.5 / 5 stars

Google. com

29

4.2 / 5 stars

Booking. com

66

8.1 / 10 stars

Property Details

Property Type

Commercial Real Estate
Motels

Sale Type

Freehold Going Concern
Urgent Deadline Sales

Region

Southland

Physical Address

Ashlar Motel Queens Drive, Richmond, Invercargill, New Zealand

Price

FREEHOLD GOING CONCERN, asking $1,450,000 +GST if any

Contact Agents

Business Broker Adrian Chisholm

Adrian Chisholm

PRINCIPAL | Tourism, Hospitality & Leisure Business Broker
Head Office | Otago & Southland
International: +64 21 727 888
NZ Mobile: 021 727 888

Email: adrian@tourismproperties.com

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