Motel Lowest Price in Best Location?

  • Asking price: $399,000
  • Listed: Tue 5 Dec, 2:08 pm
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Listing #: 1485087466
Location: Christchur­ch City, Canterbury
While Motel businesses are still booming in Riccarton, is this the best buy in the current market?
Our vendor is motivated to sell, instruction was clear "bring me an offer"!

The business is mostly under management and there is a 3-bedroom manager's residence.
11 guest units in total:
Two bedroom x 6
One bedroom x 3
Studio unit with cooking facilities x 1
Studio unit with no cooking facilities x 1

Current lease has another 11 years to run (the asking price of the business is adjusted accordingly), however the landlord has indicated the possibility of extending the lease for the purchaser (additional costs may apply).

Repair and minor make-over was completed in 2014, while another refurbishment could be beneficial for the business the new owner could well run the business as is.

Price is now reduced to $399,000 (+GST if any), for this price early inspection is recommended, Contact Athol McCully today before it is too late!

Note: All enquiries must be directed to the broker. Business details including the name and location of the business may only be disclosed to those who complete a confidentiality agreement.

Agency reference #: CIB26326
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Agent's details

Athol McCully B.Agr.Sc.
  •  (027) 4338052
  •  (03) 3719126
NAI Commercial Grenadier City
(03) 3719126

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