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Blenheim - Larger Impressive Motel Lease Opportunity!
For Sale
Reference #:
LH517
Price (+GST if any):
$1,250,000
Price Type:
Asking Price
Business Type:
Motels & Motor Lodges 
Property Type:
Lease
Region:
Nelson & Marlborough
State Highway One
Blenheim
Grove Park Motor Lodge. Motivated Vendor!
- Prime strategic State Highway 1 location on Picton/Inter Island Ferry route.
- 10-15 minutes walk to town centre, adjacent to quality restaurant, handy to tavern/bistro and other eateries.
- Spacious garden and lawn setting with in-ground swimming pool, sauna, recreation/play area and barbeque.
- 21 ground floor units consisting of 6 x studio, 4 x 1 bdrm and 11 x 2 bdrm on approx. 7000m2.
- Plus 8 new units built to a high specification. Completed complex is 29 units.
- All units are spacious, and well presented being fully self-contained, 4 with spa baths.
- Excellent refurbished private 3/4 bedroom owners residence.
- Turnover, occupancy and returns are impressive, showing steady growth.
- 35 year lease available with realistic "stepped" rent.
Broker's Details
Disclaimer
This listing information is compiled from information supplied by the vendor and other sources. Whilst all care has been taken to ensure accuracy, prospective purchasers should not rely on the contents herein as a statement or representation of fact, but make their own enquiries to satisfy themselves on all aspects.
Prices listed above are plus GST, if any