Comercial
MARINA COURT MOTEL FOR SALE AS FREEHOLD GOING CONCERN IN WHANGAREI - ROCK SOLID BUSINESS - STABLE INCOME - WELL MAINTAINED BUILDINGS AND GROUNDS - SOLE WATERFRONT MOTEL ON RIVERSIDE DRIVE IN WHANGAREI - HARBOUR VIEWS The Marina Court Motel sits bordering the shores of the marina on Riverside Drive in the heart of central Whangarei. It is the only motel with a waterfront position on Riverside Drive. The current owners have set up the operation to run on minimum daily input by offering long term rates on a regular basis, and this has generated significant good will and an excellent reputation within the international boating community, with yachties turning up who have never been to New Zealand but know exactly how to find the Marina Court because their mates have told them to stay there. This is truly a rock solid business opportunity with a steady and sustainable trade producing good profits for the owner. Due to the current business model this can either offer good returns with a more relaxed approach, or with more effort, correspondingly the returns can be raised as well by taking in more short termers who of course pay higher rates, but also require more servicing. Although the buildings have been maintained to a high level by the vendors, the opportunity still exists to reap the benefits from the capital gains that could result from some strictly cosmetic improvements for a relatively small investment. CONFIGURATION The Motel consists of 3 blocks. The owners accommodation is on the top floor of the house block. The Marina Court provides spacious and comfortable owners accommodation, with great views of the Marina area and always something of interest happening in view. There are two bedrooms, an office and open plan kitchen, lounge and dining. There is easy access to the reception area via the stairway. Downstairs in the owners block is a fully self contained flatette. In addition to the flat there is a veritable rabbit warren of storage spaces, workshops and garaging. The ground floor also contains the guest laundry which was refurbished in 2007, with coin operated machines. The two accommodation blocks contain 8 fully self contained units. There are 2 X 2 bedroom units and 6 X 1 bedroom units. Units 1,2,3,4,5 and 7 have been refurbished since arriving about ten years ago. Consent for extra units is available. The motel complex was repainted in 2001. The grounds are beautifully Maintained, with a recently recovered gazebo, a carport and freshly laid asphalt forecourt. The rooves of the two main blocks are near new, and the house roof is only about ten years old. A new underground water supply was laid in 2005. For health reasons the vendor is very keen to move on, and will consider any reasonable offers, or part trades. The Marina Court is a Freehold Going Concern which consists of Freehold Buildings sitting on leasehold land. The terms for the lease hold on the land are 21 years lease in perpetuity, which means it is an absolutely watertight agreement guaranteeing right of renewal. The lease cost represents a small portion of the outgoings as an overhead, and compared to the cost that the land would realise as a freehold it represents bargain basement value. A property like this in it's location with freehold land would cost far, far more than the current offering. Make no mistake, this is a Freehold Going Concern, without the capital outlay, opportunity costs and interest payments required to secure the land. When factored into the equation with lifestyle, location and income it represents real value. FEATURES Whangarei is the commercial centre for Northland Whangarei, with an urban population of over 47,000, is a modern and vibrant city situated at the head of a picturesque harbour. Whangarei is New Zealand's warmest and most northern city and is famous for showing visitors an easy-going good time. The Central Business District is centred around the Whangarei Town Basin with cafes, restaurants, shops, galleries and international yacht moorings. Whangarei also has numerous museums, a world famous clock collection and New Zealand's best collection of native ferns. Whangarei is surrounded by fertile farmlands, orchards and forestry with enough rainfall to keep the surroundings lush, green and attractively semi-tropical. Key selling points: The Only Waterfront Motel on Riverside Drive in Whangarei Harbour Views From Your Lounge Very Stable Income Potential To Expand Operation/Buildings Long term rates = low labour input Comfortable Spacious Owners Accommodation. http://www.arkadia.com/zpoc-t168872/