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Property Ref: 4835

Homestead Lodge, Motel For Sale, Timaru – Perfect First Motel Business!

Property Type: Motels

Sale Type: Leasehold Interest (Business)

Region: Canterbury

Physical Address: 28 Evans Street, Timaru, 7910

Price: LEASEHOLD INTEREST (BUSINESS), $395,000 plus GST if any

Broker: Peter Gale

Mobile: +64 21 608 107

Email: peter@tourismproperties.com

If you are looking for your first Motel business at an affordable price this ticks the boxes. It features 13 very presentable units on a prime State Highway 1 (main road) location and, most importantly, is a good performer showing consistently sound returns. With established regular clientele and a pipeline of forward bookings this continues to be popular ‘mid-priced’ accommodation.

The comfortable 3-bedroom on-site Manager’s residence is well designed with the Motel reception adjoining the generous living area. This provides a convenient management space.

This business is underpinned by a secure lease with 22yrs still remaining.

Guests are attracted by this Motel’s great location – it is relatively easy walk to Timaru’s iconic Caroline Bay and Aquatic Centre and the restaurants on the city’s Bay Hill. A supermarket, takeaway outlets and other shops are also within an easy drive.

If you wish to add further scale to the business then there may also be an opportunity to lease a modern house to the rear of the Motels. This complements the Motel business and has proved to be a very popular with families and large groups.

The vendors are planning to step up to a more substantial business and are happy that they leave Homestead Lodge in a great position for the next owners.

Timaru city is located on the east coast near the middle of the South Island of NZ. The city serves a district of 46,700 people, with a wide rural South Canterbury hinterland. It provides an excellent sporting and social hub for those coming from other areas of the South Island, who require accommodation for the events held in Timaru. It has a protected beach, Caroline Bay, which serves as the focus of an annual Summer carnival. Timaru is also handy to popular trout and salmon fishing rivers. It is an ideal staging point for trips to the MacKenzie Basin, with Lake Tekapo just over 1 hour’s drive away, and Aoraki Mt Cook approximately 2.5 hours’ drive. Strong tourist numbers have supported excellent custom of motels around the South Island, particularly over the past three to four years, and centres such as Timaru have been able to participate in this tourism boom.

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Lease #1

Lease #2

Financials

Property Details

Property Type

Motels

Sale Type

Leasehold Interest (Business)

Region

Canterbury

Physical Address

28 Evans Street, Timaru, 7910

Price

LEASEHOLD INTEREST (BUSINESS), $395,000 plus GST if any

Contact Agents

Peter Gale - Tourism Properties Broker

Peter Gale

Tourism & Hospitality Business Broker
South Canterbury, Waitaki, Otago & Northern Southland
International: +64 21 608 107
NZ Mobile: 021 608 107

Email: peter@tourismproperties.com

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