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  • For sale
Suburban Motel - Freehold Going Concern - #1
Suburban Motel - Freehold Going Concern - #2
Suburban Motel - Freehold Going Concern - #3
Suburban Motel - Freehold Going Concern - #4
Suburban Motel - Freehold Going Concern - #5
Suburban Motel - Freehold Going Concern - #6
Suburban Motel - Freehold Going Concern - #7
Suburban Motel - Freehold Going Concern - #8
Suburban Motel - Freehold Going Concern - #9
Suburban Motel - Freehold Going Concern - #10
Suburban Motel - Freehold Going Concern - #11

For Sale

Negotiation

The Gloucester House Motel is located on a residentially zoned 2023m² parcel of land located in central Hastings at 404 Avenue Road West. The property comprises a residential house (moteliers residence) and 11 motel units as well as a separate kitchen, laundry, and swimming pool.

Constructed in the 1990s, the spacious internal layout ensures an onsite carpark for every unit. The units are very well equipped with some having full disabled access and bathrooms and all having gas cooking and television. The property has been well maintained by the current owners.

The housing crisis in New Zealand and particularly Hawke’s Bay has created the perfect storm for this business as the local economy is still thriving with many people coming to stay from out of town on business as well as housing New Zealand knocking at the door prepared to pay a premium for housing temporarily displaced Kiwis.

The business recently has only housed 3 of the 11 units out to Housing New Zealand and the other 8 have been occupied (circa 80% of the time) by members of the general public, predominantly out of town reps. 

The Freehold Going Concern is to be sold on vacant possession.



Ref #: 20827696