Freehold motel in tourism centre on sale

edia Release
May 26th 2009

Freehold motel in tourism centre offers secure income stream

A rare opportunity to purchase an entry-level freehold motel in the tourist hub of Taupo is attracting significant interest, as challenging economic times encourage people to look towards securing their future and their investment dollars.

Mountain View Motel in Fletcher Street, on the fringe of Taupo’s CBD, is being marketed by Grant Bayley of Bayleys Taupo. He says strong enquiry already from a wide range of parties has highlighted the desirability of this traditional Kiwi motel complex which will be auctioned on Friday June 5.

The eleven unit motel complex is situated on a roomy 2180sq m site one block away from Lake Taupo and within easy walking distance of the CBD. It is bordered by townhouses and older-style housing in a quiet residential strip.

“The location has made the property appealing for travelling salespeople, tourists and family groups with a bonus being very good views of the Lake and the mountains from many of the elevated units,” says Bayley.

The complex comprises seven two-bedroom units – four in the newer two-storied block on the lake side of the property, and three in the original block on the north boundary – along with four studio units. Owner/manager accommodation is a self-contained two bedroom unit attached to the reception area with a private courtyard allowing some respite from public gaze.

As a middle-of-the-road accommodation option, the units are tidy, unpretentious and functional and the grounds well-maintained.

In keeping with motels of this style, there is a games room, spa pool, guest laundry, children’s playground and a communal barbeque area. Allocated guest car parking is supplemented by additional off-street parking with room for boats which is a draw card for many guests.

“This is a sound business easily managed by an owner/operator. The current owner has built up a good clientele and it is the sort of opportunity that could appeal to a couple looking to create their own employment,” says Bayley.

With the current economic climate exposing job insecurity, this could well be the chance for someone to take some control over their situation and invest in a thriving tourist destination.

“I have also had enquiry from ex-pats looking for business prospects back in New Zealand and retiring farmers who are not yet ready to fully give up work looking to combine an income with a lifestyle in an area renowned for its leisure pursuits.”
Equally, if someone did not wish to have a hands-on role in the hospitality industry, an investor could secure the property and create a lease as with the majority of Taupo motels.

A consultant’s report on the property has been commissioned to explore future development possibilities, as the property’s location and views leave it open to several options.

“As it is now, the motel is a good little business but by the same token, the appeal of a 2180sq m site within a short stroll of the lake cannot be underestimated,” says Bayley.

ends

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