• 30 year lease from 2005 with right of renewal through 2065
• Rotorua’s Motel Mile
• Tenant pays all outgoings including land rent
• 28 rooms plus conference facilities and large owners residence
National Director | Central Auckland
One of Rotorua's best motel accommodation providers located on a main arterial route into or out of Rotorua.
This site consists of approximately 2,052sqm and is pursuant to an interest from the Rotorua Racing Club RRC.
The lease requires the tenant to pay 100% of all the outgoings, including the ground lease, fully maintain the property as required, refurbish all units and paint the exterior at fixed intervals, giving a true net return of $300,000 plus GST.
The property is leased for 30 years from 2005 and allows for a further 30 year right of renewal through to 2065. Full personal guarantees are in place from a well established tenant.
The ground rent is for a period of 99 years from March 2005 and has 83 years remaining on the term.
Tuscany Villas is a standout property on Fenton Street and has always enjoyed a good level of income.
For further information, please contact the listing agents.
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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