Passive Hotel Investment - 7% Return?

201-207, Palmerston Street, Westport, Buller

By Negotiation

Proposed Usage
Hotel & Leisure
Floor Area
1490.00 m²
Description:
Property ID
1bpkmd3

Located on a prime site the Westport Motor Hotel caters to domestic and international tourists and locals. The income is $150,000 +GST + outgoings with a lease in place to 2050.
In the last two years work has been completed on the buildings which are 67% of NBS and there has been refurbishment carried out at the same time. The zoning is commercial and the rating valuation is $2,160,000 (September 2016)
Set on a large 4231sqm of land, this tidy complex consists of 27 guest accommodation rooms, reception and lobby area, a house bar, a public bar, conference room, bottlestore, restaurant, a large commercial kitchen, and the usual back-of-house facilities.
The Westport Motor Hotel is an established and proven business with revenue streams from wholesale liquor, retail liquor, in-house dining, bar and wine sales, corporate conferences, overnight accommodation, casual diners, functions and special events and meetings. There is also Manager's accommodation on-site.
This is an impressive passive investment in the tourism sector.
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Westport Area