Two neighbouring motel complexes in the popular Hawke’s Bay location of Havelock North are being offered to the market for sale, presenting buyers with an outstanding purchasing opportunity.
The Village Motel is located at 16 Te Aute Road and has 20 total units with 1,120m² of total floor area on a substantial landholding that spans 2,291m². The property returns $258,000 plus GST in net annual rental income with a long-term lease of approximately 18 years remaining and a final expiry of 1 September 2042.
Te Mata Lodge sits at 21 Porter Drive and this motel also has 20 total units across 1,100m² of floor area on a site that measures 1,852m². Te Mata Lodge has a long-term lease in place of approximately 18 years that runs until January 2042, returning $260,000 plus GST in net annual rental income.
The properties can be purchased individually or in one line. These perfectly positioned motels enjoy a prime location in the heart of Havelock North Village, home to boutique shopping and exceptional dining options.
Contact Danny Blair for further information.
Features:
* Modern well maintained motel complexes
* Prime position in Havelock North, easily accessible and great profile
