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123 Taranaki St, Ramada Hotel & Suites

Asking price: $268,000

Listing Description

Listed: Wed, 2 Dec

Wellington, New Zealand - Gross Return up to 6%

123 Taranaki St, Ramada Hotel & Suites, Te Aro, Wellington, Wellington

Asking price $268,000

Details

  •   1 Bed
  •   1 Bath
Attribute Value
Property type
Apartment
Agency reference
QTN22605
Broadband options Fibre, ADSL, VDSL, Wireless

Description

Ramada Hotel and Suites Wellington is comprised of 93 premium furnished Hotel apartments with excellent benefits for investors, due for completion in April 2021. The apartment investment opportunity at Ramada Hotel and Suites Wellington is ideal for investors who are looking for an investment property that has a reputable commercial tenant and a secure return gross of up to 6% with fixed growth throughout the lease term.

KEY INCOME TERMS Term: 30 years based on 15 + 5 + 5 + 5 Initial rent per unit: $17,000 gross plus GST if any (including free-stay value) Reviews: 2% (compounding) increase starting after year 3 and market review on renewals Return: Up to 6.3% gross Price per title: $268,000 + GST (can be zero rated)

KEY BENEFITS • As a Ramada franchisee, we are backed by a franchisor that is one of the world's largest and most successful hotel operators • Continuity of income • Up to 6% guaranteed return with annual rent increase after year 3 paid directly into your bank account on a monthly basis at 2% per annum guaranteed growth • 10 days free use per annum for owners • A commercial guarantee on rental • Great entry level pricing for investors looking for property with a long term lease in place • A hands off, hassle free investment with minimal owner input required


Open home times

No times scheduled

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Agent's details

James Ramsay

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Mae Young

Enquire about the property

Ray White Queenstown (Wakatipu Realty Group Ltd), (Licensed: REAA 2008)

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