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Property Ref: 1398
Ranfurly Hotel, Central Otago – ‘Passive’ Freehold Commercial Investment with New 20 year Lease!
Property Type: Country Pub, Commercial Real Estate, Investment Opportunities
Sale Type: Freehold Investment
Region: Central Otago, Otago
Physical Address: 10 Charlemont Street, Ranfurly, Central Otago, New Zealand
Price: Freehold Land & Buildings $1,000,000 + GST (if any)
Broker: Peter GaleMobile: +64 21 608 107
The Ranfurly Hotel is a striking Art Deco building, dating back to the mid-1930s, that has recently been significantly refurbished. Strategically positioned on the booming Central Otago Rail Trail it enjoys substantial patronage from tourists as well as the local market.
There is a new, secure 20-year fixed-term lease in place to the hotel business, with 2 yearly rent reviews. Rental is set at $70,000 pa plus a compulsory ‘repair account’ fund equivalent to 17% pa of the annual rental to ensure that the building remains at a high standard.
At an asking figure of NZ$1M + GST (if any) for the FREEHOLD including 3,774 sqm of land and buildings this is an outstanding investment opportunity with a solid return and upside potential with future rent reviews.
Full Listing Information for this Tourism Business will be disclosed to registered, approved Potential Purchasers.
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IEP Earthquake Report
Code Compliance Cert
Rating info 3 Northland Street
Rating info 10 Charlemont Street
Rating Info 12 Charlemont Street
Property TypeCountry Pub
Commercial Real Estate