Broker | Northland-Nth Shore/West Akld
Mob: +64 22 0515 782
Director | Taupo and Central Auckland
The property consists of 14 units over two levels and commands the corner site of Tamamutu and Titiraupenga Streets. The site is elevated and has a very good profile. The configuration of the rooms is very good, accommodating for both corporate and family clientele. 9 x one-bedroom units and 5 x two-bedroom units.
The balance of the motel units is owned by 12 people who have the ability to stay at the property from time to time.
The Management Agreement commenced in 2010 for 20 years with a right of renewal of 20 years, final expiry is August 2050.
This is an excellent opportunity for an astute investor to own an accommodation business with a key real estate component.
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:
There have been recent legal decisions with regards to the status of some of the provisions commonly found in management rights contracts in New Zealand. We recommend that all potential buyers of Management Rights seek legal advice.
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.
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