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Colonial on Tay

$460,000

Business Southland

ID: 1772

Colonial on Tay

Property Name:
Colonial on Tay
Address:
335 Tay Street, Invercargill
Property Type:
Motels
Sale Type:
Business
Price:
$460,000 
Region:
Southland
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Peter Smithies

Peter Smithies

Broker | Balclutha, Dunedin, Invercargill, Oamaru, Timaru

M: 022 391 9593

peter[at]resortbrokers[dot]co[dot]nz

Reasons to buy

  • Location
  • Good turnover
  • Long lease - expires 2052

Peter Smithies

Broker | Balclutha, Dunedin, Invercargill, Oamaru, Timaru

Contact Agent

Peter Smithies

Mob: 022 391 9593

Email: peter[at]resortbrokers[dot]co[dot]nz

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A Busy Motel

 

 

Situated in the main motel strip of Invercargill with 33 years remaining on the lease and providing a good return on investment.

The managers spacious 2 bedroom unit is in good condition and includes a private front lawn.

The 10 motel units are in good condition with recent work on many of them.

The main configuration of the units are one-bedroom and guests are mainly corporates.

The motel is close to the CBD of Invercargill and other attractions including Bill Richardson Transport World, the Sports Stadium and the Cycling Velodrome.

Invercargill is a fast-improving city of the south and with new shopping areas, educational facilities and other improvements planned it has become very popular in recent times.

All the above are good reasons if you are looking for a motel business with a good return in a progressive city.

Approximate Yield: 25%

Contact me to view this property.

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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Peter Smithies

Peter Smithies

Broker | Balclutha, Dunedin, Invercargill, Oamaru, Timaru

M: 022 391 9593

peter[at]resortbrokers[dot]co[dot]nz

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