For sale by deadline private treaty closing 4:00pm Thursday 20 June (unless sold prior) Ground Floor, 129 Hurstmere Road, Takapuna.
This motel, renowned as one of Papakura town's best, boasts 14 guest units together with a separate three-bedroom owner/manager's residence. The unit options include seven studios, five one-bedroom, one two-bedroom, and one three-bedroom, providing a range of choices for guests.
The buildings feature sturdy concrete exteriors and roofs, exuding a sense of solidity and a European-style charm well maintained over the years by the owner.
The motel has been operating under a full contract with HUD (Ministry of Housing and Urban Development) since 2018, this current term of this contract is set to expire on June 30, 2024. HUD confirmed to renew the contract starting from 1 July 2024 for another year. In the event of terminating the contract, this motel will transition back to normal operations.
For interested buyers, the motel business presents an opportunity with a brand-new 30-year lease, with a further 10-year Right of Renewal. The sale can be tailored to suit the right business buyer, including a new Deed of Lease.
Access to a full information pack will be granted upon signing and acceptance of a Confidentiality Agreement. It is the vendors' (and landlord's) instructions that they will only consider unconditional offers with purchaser due diligence to be completed prior.
Due to full occupancy, inspections are available by appointment only.
For the Confidentiality Agreement or to arrange a viewing, please contact Chris Park of Barfoot & Thompson North Shore Commercial by email to c.park@barfoot.co.nz or text to 021 2733 400.
