Legacy investment: 35 year lease with upside
- Clifton Court Motel comprising 18 units plus four bedroom managers residence
- Large 5,134sqm freehold land plus buildings with strategic SH1 location
- 35 year lease to established motel operators with personal guarantees
- Annual net income of $245,584.30 + GST with bi-annual fixed growth
- Additional income of $85,260 per annum from Landlord financed business loan (refer lease documentation)
Full refurbishment of this property is now complete, resulting in a total upgrade transformation. The Vendors have on sold the motel lease to the current operators who are enjoying the long standing and reputable business this fantastic operation provides. Strong lease covenant with personal guarantees, two yearly rent CPI + 1% reviews and scheduled maintenance dates.
111 Main Road is positioned on the western side of SH1 within the main commercial precinct of Tokoroa, surrounding neighbours include Countdown, Bunnings, Mobil, National brand food outlets, South Waikato Sports / Events Centre and South Waikato indoor swimming pool complex. This motel complex is a very popular accommodation stop over with excellent rating reviews in a prime provincial location.
Favoured long term, passive investment with attractive provincial returns for the astute buyer.
For Sale by Negotiation.