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Property Ref: 2355

The Racecourse Motel Business is for sale in Paeroa

Property Type: Motels

Sale Type: Leasehold Interest (Business)

Region: Waikato

Physical Address: 68 Thames Road, Paeroa

Price: Price Reduced $295,000 (+GST if any)

Broker: Malcolm Teesdale

Mobile: +64 27 530 8738

Email: malcolm@tourismproperties.com

The Racecourse Motel in Paeroa offers an excellent opportunity for entry to the booming tourist accommodation business. And at the reduced price of just $295,000 it represents excellent buying.

Paeroa is at the gateway to the Coromandel and on the incredibly popular Hauraki Rail Trail cycle way through the stunning Karangahake Gorge. The town is full of history and interest.

The motel is currently operated as a Freehold Going Concern. It rates Very Good 8.5 on Booking.com and has very positive guest reviews. However, family reasons oblige the owners to sell the business, while retaining the property.

A new lease will be created on very generous terms. Initial rent will be set at $90,000 +GST pa, reviewed yearly to the Consumer Price Index.

Very good business performance means the new business owner can expect to earn into 6 figures, for a return on investment around 30% per annum – while enjoying the significant benefits of living in/off the business.

The Racecourse Motel comprises 10 units, easily managed by a couple:

  • 2 family units (1 x 1 brm and 1 x 2 brm) offer spacious, comfortable accommodation to families
  • 6 studios are much sought after by corporate and private travellers
  • And the jewel of the property, 2 brand new studio units.

All units have been recently refurbished and present very well. Already this has shown benefits in increased room rates and occupancy.

The business owners will enjoy a roomy, three-bedroom home with attached garage. And living in Paeroa means you have all services and amenities readily available.

Full financial disclosure is available to qualified enquirers.

Interested in getting into tourism accommodation, in a business of proven profitability? Then call now for your opportunity to inspect the Racecourse Motel.

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Code Compliance New Units

Trading Accounts

Rates

Property Details

Property Type

Motels

Sale Type

Leasehold Interest (Business)

Region

Waikato

Physical Address

68 Thames Road, Paeroa

Price

Price Reduced $295,000 (+GST if any)

Contact Agents

Malcom Teesdale - Tourism Properties Business Broker

Malcolm Teesdale

Tourism & Hospitality Business Broker
Waikato, Taupo & Central Plateau
International: +64 27 530 8738
NZ Mobile: 027 530 8738

Email: malcolm@tourismproperties.com

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