4 Star Plus in every way!
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Broadway Motel, located in the thriving seaside town of Picton, has wonderful street appeal, a contemporary image and offers superior accommodation. This motel will attract investors looking for an attractive income along with a stable business.
Reasons to buy:High profile locationLong lease tenureTrip Advisor 'Certificate of Excellence' winners 2013 - 2016Qualmark rated 4 Star PlusNet income has risen consistently over the last 4 yearsOccupancy 'best in class'Excellent mix of units
The complex has 18 units, all with quality fittings, double glazing and air-conditioning, comprising of:5 * 1 bedrooms2 * 2 bedrooms11 * studios
The owner's residence has a large master and single bedroom, spacious lounge, dinning and full kitchen. Bathroom with shower and bath plus separate toilet and laundry. A unique feature of the residence is internal access to a "one bedroom family unit" which sleeps 4, separate bathroom with shower and separate toilet plus a large balcony. This unit can be used for the owner's family or used as guest overflow or motel minders. It is extra to the 18 units. Garaging is a single garage.
âBroadway Motel is a short stroll to Picton's main street cafes and bars, waterfront, inter island ferry terminal and railway station. It is also close to a major supermarket.
Picton is the starting point for explorations of the Marlborough Sounds and gateway to the South Island. Picton is also a convenient stopping off point for travelers leaving and arriving on the popular Interisland ferry. The ferry operates between Wellington (NZ's capital city) and Picton and carries an estimated 1 million passengers annually.
Tourism in NZ is now a major export earner and experiencing tremendous growth. International tourism spend is expected to reach $15 billion in 2023, up 52 per cent from 2016. (MBIE, 12 May 2017). Take the opportunity now to invest in this growth sector.