Hotel and Motel Freehold - 8% return?
34, Weld Street, Hokitika, Westland
- Proposed Usage
- Hotel & Leisure
- Floor Area
- 1.00 m²
- Property ID
- Tenure : Freehold Investment (land and buildings)
- Income: $95,000 + GST per annum
- Lease : In place to 2027
A prime freehold investment on the West Coast of the South Island. This high profile site in Hokitika has a generous land area of 1644 square metres and is operating as the well known Railway Hotel and Motels, a classic hospitality operation with bars, a dining room an outdoor courtyard, accommodation, an owners apartment, function room, TAB and gaming machines. The operator pays all outgoings ensuring this is a no fuss passive investment.
Rating Valuation dated 01 September 2014 is $930,000 (land value $440,000 and improvements $490,000)