sold
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1 of 14
1 of 14
Sold Property
m2
$2,890,000
Adam Berry Harcourts Christchurch City Commercial
Milano Motor Lodge Presents An Extremely Rare Central Christchurch Investment Opportunity In The Tightly Held South Island Commercial Property Sector.
An attractive, modern complex situated on one of the Golden motel accommodation miles. Positioned in the Heart of Merivale also provides any astute investor the added security of Premium Real Estate with Location, Location, Location!.
This one owner, 20 year old property is now available for sale for the first time. Truly a real gem & built by one of the Premier Motel Developers in the South Island, consisting of 14 well thought out units. The unit composition sees two, two-bedroom units, six, one-bedroom spa baths, one studio spa and five studio units all presented in excellent condition. There is also a separate 3 Bedroom + ensuite executive style managers residence situated on this lovely landscaped 1600sqm of prime Merivale land, all being meticulously maintained.
With a favourable Lease in place this Commercial Investment should provide an attractive rental return for any astute investor looking for a premium property with Good yield.
- Contract Rental Income $170,000
- Motel Lease Commencement Date 1/7/2004 Term 35 years.
- Capital Value: $2,870,000
- Gross Building Area: Circa 759 square metres
- Land Area: Circa 1600 square metres
- Detailed Engineering Evaluation: Circa 72% NBS
With a genuine long term owner / investor retiring from the industry, we see this as a great opportunity to secure this outstanding property, that is underpinned by Prime Real Estate.
We welcome all enquiries so Act Fast To Secure This Gem!
The floor areas are approximate only and have not been independently verified. We recommend the (tenant / purchaser) seeks their own expert assessment from a suitably qualified professional.
Property ID: #CIC54226
Office
Licensed under REAA 2008
m2
Sold Property
Milano Motor Lodge Presents An Extremely Rare Central Christchurch Investment Opportunity In The Tightly Held South Island Commercial Property Sector.
An attractive, modern complex situated on one of the Golden motel accommodation miles. Positioned in the Heart of Merivale also provides any astute investor the added security of Premium Real Estate with Location, Location, Location!.
This one owner, 20 year old property is now available for sale for the first time. Truly a real gem & built by one of the Premier Motel Developers in the South Island, consisting of 14 well thought out units. The unit composition sees two, two-bedroom units, six, one-bedroom spa baths, one studio spa and five studio units all presented in excellent condition. There is also a separate 3 Bedroom + ensuite executive style managers residence situated on this lovely landscaped 1600sqm of prime Merivale land, all being meticulously maintained.
With a favourable Lease in place this Commercial Investment should provide an attractive rental return for any astute investor looking for a premium property with Good yield.
- Contract Rental Income $170,000
- Motel Lease Commencement Date 1/7/2004 Term 35 years.
- Capital Value: $2,870,000
- Gross Building Area: Circa 759 square metres
- Land Area: Circa 1600 square metres
- Detailed Engineering Evaluation: Circa 72% NBS
With a genuine long term owner / investor retiring from the industry, we see this as a great opportunity to secure this outstanding property, that is underpinned by Prime Real Estate.
We welcome all enquiries so Act Fast To Secure This Gem!
The floor areas are approximate only and have not been independently verified. We recommend the (tenant / purchaser) seeks their own expert assessment from a suitably qualified professional.
Property ID: #CIC54226
Adam Berry Harcourts Christchurch City Commercial
Office Harcourts Christchurch City Commercial Licensed under REAA 2008
Whether an owner-occupier or an investor we can help you determine the worth of your current asset. Why not find out with a Property Appraisal, highlighting recent sales and leases, property returns, market insights and more?
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