Motel freehold Investment Hamilton $2,800,000 with 30 Yr Lease.
Blue Chip Real Estate. YET TO BE BUILT. (Photos are of another similar development) Ref :Inv 36
PURCHASE VALUE $2,800,000
Return on investment 7.5%
UNITS 23 units.
The breakdown of units comprises 17 studio units, 6 x 1 bedroom units.
LOCATION: Hamilton.
This is a new motel that is being built. (PHOTOS ARE OF A SIMILAR MOTEL BUILT BY THE SAME DEVELOPERS)
OWNERS ACCOMMODATION: The owner’s residence is a three bedroom home with two bathrooms.
LEASE TERM 30 years with a lease in place.
RENTAL $210,000 plus GST per annum.
RENT REVIEW DATE Every two years.
MAINTENANCE ACCOUNT A figure equal to 5% of the annual rental.
The property is on a large site. 0.2059 sqm
It is on three land titles.
A registered valuation is on file and can be made available to interested parties.
This was done in Jan 2010 and showed the freehold value of the property to be $2.8 million.
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