Property listing ID: 454496
Enormous Development Potential to double or triple returns subject to council approval (STCA). For Sale: As a complete package only (ie: Not as separate items) 1. 869 Beach Road Motel of 9 x 1, 2 & 3brm Apartments. Add additional apartments or redevelop to possible 28 on existing land STCA. Asking $2.1 mil (GV 1.875 mil) 2. Business :- Sea Vista Apartments Returning up to $450K P/A (470K p/a including GST 2011). Asking $800K Each Apartment returns up to $45,000 p/a Gross as short stay furnished accommodation. Each is fully self contained with kitchen, bathroom, washing machine & residential phone line. Two brand new boutique style apartments just completed Dec 2012 which can be viewed on the business website gallery www.seavista.co.nz Holding a rare residential motel zoning, a very unique opportunity to add several additional apartments on the current land around the existing buildings. Also available: Compliant plans for 3 storey, 5 bedroom, 3 bathroom, two living area home with sea views. 'The zoning also provides for other uses such as travellers accommodation, housing for the elderly/disabled & residential care type facilities as a discretionary activity (that is subject to a resource consent application and council's discretion as to whether or not it will be approved)'. 'The important point about the travellers accommodation option (unlike the residential unit option) is that there is no limit on the maximum number of accommodation units. There is no land area or density-type rule which limits the number and instead a proposal is assessed on its merits & in terms of potential environment effects'. (The full resource consent specialist report is available). Business is mainly run from offsite with only a couple of hours every day or so required on site.
Listed by Barfoot & Thompson , Torbay Residential Sales (Torbay)