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Napier South 4 Westminster Avenue, Napier South

ID TPC232457
By Negotiation

Napier Freehold Motel Investment

The Fern Motel offers the savvy investor the opportunity to buy this Freehold Investment in the Tamatea area of Napier. The motel has had extensive improvements over the years and presents well. The lease extends to 31st March 2045 (19 Years) and allows for biennial rent reviews through CPI or market rent reviews, offering an inflation-resistant investment. The current rent is $259,957.58 + GST per annum. All outgoings (insurance and rates) are covered by the lessee.

Enjoying a prime location just off the Napier Hastings Expressway (SH 2 / SH 50), Fern Motel is exceptionally well connected to Napier CBD, key arterial routes, and local services including Napier Airport. Its tidy, attractive grounds, plentiful parking and high-visibility street presence underpin strong tenant demand and long-term occupancy appeal.

This investment opportunity offers:
• An 18 Unit Motel with a 3 Bedroom Managers Apartment.
• Freehold land - 3,915m² (more or less) and buildings 730m² (more or less).
• Net rental income of $259,957.58 + GST per annum.
• Secure long-term lease through to 31st March 2045.
• Biennial rental increases - (CPI or Market Rent Reviews) - next one is from 1st April 2027.
• Established maintenance fund providing for ongoing asset upkeep.

Don't hesitate to contact me to find out more about this effortless investment opportunity!

Further information is available on completion of a confidentiality agreement.
Features
Area | 730.00m2Rates | $20,391.91Regional rates | $1,623.14LV | $1,170,000RV | $1,670,000
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Colin MacPhee

M  021 0219 1178  P  

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