Listing #:1485861975

Racecourse Motel Business for sale in Paeroa

Location: 68 Thames Road, Paeroa, Paeroa, Hauraki, Waikato
Property use: Hotel/Leis­ure
Floor area: 1m2
Land area: 1m2
Price: $90,000 per annum
Property ID#: FHM804
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.

The Leasehold Interest (Business and Chattels) is offered at $350,000 (+GST if any).

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 with the benefits already showing in 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 - and note that the available data does not include revenue from the already popular new studios which should increase turnover by at least 20%.

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
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$90,000 per annum
68 Thames Road, Paeroa, Paeroa, Hauraki, Waikato
$90,000 per annum
Listed: Thu 25 May, 2:46 pm
Malcolm Teesdale, (Licensed: REAA 2008)
  • Contact details
  •  (027) 5308738


Agent's details

Malcolm Teesdale
  •  (027) 5308738, (Licensed: REAA 2008)
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Expires: Wed 6 Feb, 6:45 pm
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