Hokitika, West Coast

Discover this rare opportunity to acquire the freehold going concern of this modern well-established and highly regarded accommodation business, offering consistent and growing income, and strong future upside. The units enjoy a great outlook and are quieter than most, being off the main road, but still one of the closest walking distances to the heart of Hokitika. Opened in 2018 – this is the newest motel in Hokitika and in fact, the West Coast.This property offers an exceptional four bedroom plus study owners' residence; you will not likely find another of this standard in a motel operation. Separate from the units on a 903 square metre site, it includes a separate one-bedroom attached unit with open plan living, of approximately 57 square metres. This could be added to the letting pool for further accommodation income.If preferred, the property could be purchased without the large house if the new operator chose to reside in one of the two-bedroom units. The newest motel in Hokitika, and likely to remain that way for the foreseeable future. This is because the insurance replacement cost for the motel buildings alone is considerably higher than the asking price for the motel, the motel business and the substantial residence. The building replacement cost would be in addition to the cost of the land, the chattels, and any business value.Please be aware that some of this information may have been sourced from RPNZ/ Property Guru/ Land Information New Zealand and we have not been able to verify the accuracy of same. Any boundary lines shown on an image are indicative only.An Information Memorandum is available to download from our website coffeys.co.nz.Some details of this listing are confidential and can only be disclosed upon completion of a confidentiality agreement, included in the Information Memorandum.We would welcome your enquiry via this website or direct to KELVYN COFFEY.