Atrium Apartments, Mount Maunganui
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Property Name: Atrium Apartments
Address: 23 Maunganui Road, Mount Maunganui
Property Type: Management Rights
Sale Type: Management Rights
Price: $974,000
Region: Bay of Plenty
Features
- Very close proximity to the
beach
- Modern well built construction, featuring
"Atrium" architechture
- Owner's accommodation has delightful views
over Pilot Bay (Tauranga Harbour)
- Most units have views to either Pilot Bay
or Mount Maunganui beach
- Consistant trading performace since
new
- Majority of two bedroom units a special
feature
- 42 in the letting pool maximising good profits
Number of Rooms
Total of 60, 42 of which are in the pool.
Age
Built in 2001
Configuration
The configuration of the apartments in the pool is as follows:
- 1x studio apartment
- 3x One bedroom apartments
- 38x two bedroom apartments
Management Rights Agreement
There are 11 years remaining on the term as at March 2010.
Lease Details
An apartment is leased to the current operator on the same terms and conditions as the management rights.
Contact
For more information, please contact John Ferguson on 021 546 430, john@resortbrokers.co.nz
Potential buyers should review an Australian summary of management rights by clicking on the reference below which is a historic and dated document but sets out the salient issues around management right ownership and operation. Much of the content is relevant to the New Zealand situation:
http://www.resortbrokers.co.nz/research-and-reports/58/
There has been recent legal precedence with regards the status of management rights in this country and we recommend that all potential buyers of management rights read the decisions by clicking on the links below:
http://www.resortbrokers.co.nz/research-and-reports/131/
http://www.resortbrokers.co.nz/research-and-reports/134/
Downloads
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Confidentiality Agreement Atrium.pdf (144.85 KB) |
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Atrium Building Management Agreement.pdf (1.08 MB) |
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Atrium Lease.pdf (1.14 MB) |
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Atrium Body Corp Rules.pdf (1.14 MB) |
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Atrium Assets List.pdf (32.48 KB) |
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Atrium valuation.pdf (616.25 KB) |
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Atrium Accounts to 31 3 09.pdf (124.56 KB) |
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Atrium Letting Agreement.pdf (223.75 KB) |
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Disclaimer: We do not accept responsibility for mis-statement or error contained on this site. Interested persons should rely on their own enquiry. All prices are plus GST if any unless otherwise stated. If the transaction is recognised as a going concern then the sale should be zero rated.