Listing #:1407914484

Former Royal Mail Hotel for Sale - $250,000 plus G

Location: 151-153 Flora Road, Lumsden, Southland, Southland
Property use: Office
Floor area: 635m2
Land area: 2024m2
Price: Asking price $250,000
This iconic Lumsden building still retains many of its original distinguishing external features. Upstairs features eight accommodation rooms of varying configurations, all beautifully renovated in keeping with its Victorian charm. Two rooms are en-suited, the others share ample bathroom amenities. Since the last pint was poured, the original bar area has been converted to high quality open plan office space leased to FarmRight.
The whole building is currently leased to FarmRight at $4,166.67 + GST per month (plus 100% of outgoings) with a management agreement in place for the accommodation upstairs. This Lease has a Final expiry date being 1st February 2019.
**Possible new rental long term Lease with Farmright at $15,000 plus 30% outgoings, Income from accommodation (net 15% returns) approx $6,000 P/a
Total Rates 2017 / 2018 = $8,582.19, RV 359,000
If vacant possession is not required by the buyer, the tenant is amenable to renegotiate a new lease and relinquish part of the ground floor surplus to their requirements. This would allow the entrance foyer off Hero Street, kitchen and other rooms suitable for a dining room and lounge for use in conjunction with the upstairs accommodation and thereby function as a Bed & Breakfast (subject to any resource consent).

Agency reference #: GO24829
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Asking price: $250,000
151-153 Flora Road, Lumsden, Southland, Southland
Asking price: $250,000
Listed: Fri 1 Sep, 11:59 am
Lloyd Anderson AREINZ
Holmwood Real Estate Ltd Gore, (Licensed: REAA 2008)
  • Contact details
  •  (027) 4355357
  •  (03) 2081222

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Agent's details

Lloyd Anderson AREINZ
  •  (027) 4355357
  •  (03) 2081222
Holmwood Real Estate Ltd Gore, (Licensed: REAA 2008)
(03) 2081222
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Expires: Wed 13 Mar, 2:47 pm
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