Passive Hotel Investment - 7% Return?
201-207, Palmerston Street, Westport, Buller
- Proposed Usage
- Hotel & Leisure
- Property ID
The Westport Motor Hotel offers an attractive freehold investment opportunity. With a long lease in place to 2050, the annual rental income is $150,000 +GST + outgoings. Work has been completed on the buildings which are 67% of NBS, the zoning is commercial and the hotel is situated on the main thoroughfare into Westport.
Set on 4231sqm, the complex consists of 27 guest rooms, a house bar, a public bar, conference room, bottlestore, restaurant, a large kitchen, and the usual store and cleaning facilities.
The hotel caters for many of the larger functions in the community as well as providing a venue for conferences and events, while the accommodation units enjoy a high occupancy rate year round with guests being both tourists and business travellers. Upstairs within the complex is an appealing light and airy owners / managers two bedroom apartment.