Listing #:1503639263

Racecourse Motel Business for sale in Paeroa

Location: Hauraki, Waikato
The Racecourse Motel in Paeroa offers an excellent opportunity for entry to the booming tourist accommodation business.

Paeroa is at the gateway to the Coromandel and on the incredibly popular Hauraki Rail Trail cycle way through the stunning Karangahake Gorge. The town is full of history and interest.

The motel is currently operated as a Freehold Going Concern. It rates Very Good 8.4 on and has very positive guest reviews. However, family reasons oblige the owners to sell the business, while retaining the property.

A new lease will be created on very generous terms. Initial rent will be set at $90,000 +GST pa, reviewed yearly to the Consumer Price Index.

Very good business performance means the new business owner can expect to earn into 6 figures, for a return on investment around 30% per annum - while enjoying the significant benefits of living in/off the business.

The Racecourse Motel comprises 10 units, easily managed by a couple:

- 2 family units (1 x 1 brm and 1 x 2 brm) offer spacious, comfortable accommodation to families

- 6 studios are much sought after by corporate and private travellers

- And the jewel of the property, 2 brand new studio units, commissioned only in April this year.

Units are currently undergoing extensive refurbishment, Already the benefits are showing with increased room rates and occupancy

The business owners will enjoy a roomy, three-bedroom home with attached garage. And living in Paeroa means you have all services and amenities readily available.

Full financial disclosure is available to qualified enquirers.

Interested in getting into tourism accommodation, in a business of proven profitability? Then call now for your opportunity to inspect the Racecourse Motel.

Agency reference #: 54041
Asking price: $350,000
Listed: Wed 27 Dec, 12:06 pm
Malcolm Teesdale
  • Contact details
  •  (027) 5308738


Agent's details

Malcolm Teesdale
  •  (027) 5308738

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Expires: Thu 29 Nov, 12:08 pm
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