Passive Hotel Investment - 7% Return?
201-207, Palmerston Street, Westport, Buller
- Proposed Usage
- Hotel & Leisure
- Floor Area
- 1490.00 m²
- Property ID
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.