Tenanted Investment Motel Opportunity in Albany
40, Rosedale Road, Albany, North Shore City
- Proposed Usage
- Hotel & Leisure
- Floor Area
- 1306.00 m²
- Property ID
Auckland's hotel sector will remain highly constrained over the next decade, resulting in annual occupancy rates that approach 90% in the long-term. It is likely that the Auckland hotel market will reach "critical constraint status" as early as 2017 with no new supply forecast over the next 18 months and a number of major events occurring such as World Masters Games, the British & Irish Lions Tour and the Rugby League World Cup.
Apollo Square Motel is situated on Rosedale Road which serves as one of the main access points to the North Shore and Albany business area and is approximately 2km from the Albany Mega Centre. Coupled with this is the close proximity to the North Harbour Stadium, Stadium Pool, and Massey University. It is also next to Bupa Hugh Green Retirement Village, Apollo Medical Centre, Taiping Asian Shopping Centre which gives the motel guests easy access to food, medical, shopping and leisure.
The West Wing Motel is currently under construction and expecting to be finished by June 2018. It comprises 35 guests units, fully leased to a professional motel management company on a long term lease.
- 35 motel units fully leased to professional management company
- Returning $610,000 net rent a year
- CPI and market mix rent review
- Unit free hold property
- 19 car parks
- Be quick, wouldn't last long