- A Kaiapoi local bought the former Island Motel for close to the asking price of $1.4 million.
- The owner aims to repaint, re-roof, and lease the vacant restaurant and hall.
- The property, popular in the 1960s and 1970s, will remain a rental investment with improved units.
A local investor has ambitious plans for a former Canterbury motel once deemed the region’s flashiest spot.
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The buyer snapped up the former Island Motel on Beach Road, in Kaiapoi, for close to its asking price of $1.4m.
The motel, which was converted into flats after closing its doors to guests four decades ago, generates more than $160,000 a year in rental income.
The Island Motel on Beach Road was popular with Kiwi holiday-makers and couples getting married in the 1960s and 1970s. Photo / Supplied
The motel rooms were converted into 12 flats for long-term rental use in the 1980s. Photo / Supplied
Bayleys agent Angela Webb said the buyer planned to spend a lot of money upgrading the property. "He has great plans for the place. He’s so excited and passionate about it. He’s going to keep it as a rental investment,” she told OneRoof.
“He’s going to pour a lot of money into it, bring it back to life, and potentially lease out the vacant spaces.
“He’s focusing on the exterior, the landscaping and the gardens, plans to paint the walls and just brighten the place up.”
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Webb said the listing had attracted a “massive amount” of interest, with many enjoying the walk down memory lane.
The property, which had an RV of $1.31m, was immensely popular with holidaying Kiwis during the 1960s and 1970s and was said to be Canterbury's top spot for weddings and other celebrations.
The motel was also an ice cream pitstop for those making their way to The Pines Beach for the day. “We had a lot of people who were just interested to see it after so many years who remembered it from their childhood. It had some fun appeal to it,” Webb said.
She said the new owner was exactly the type of buyer they had been hoping would take on the iconic property.
Once the outside was tidied up, he planned to make improvements to the tenanted units. “It’s an ambitious project, and this guy is really excited.”
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