Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Seaside motel for sale

Seaside motel for sale

A seaside motel on the inner harbor side of Mount Maunganui is on the market for sale.

The 12 unit Mission Belle Motel was built in 1996. The land and buildings comprising the Mission Belle Motel are being marketed for sale by Bayleys Tauranga commercial salesperson Brendon Bradley through a tender process closing on December 12.

Mr Bradley said the Mission Belle Motel sat on 1188 square metres of freehold land and generated an annual rent al of $109,750 from the business operators. The motel is leased to its existing operators through until 2021, with an optional two year extension and a further five year right of renewal. The rent is reviewed every two years.

The accommodation units are split into three wings – totaling 677 square metres of space. The motel buildings are constructed of reinforced concrete with plaster finish over a mix of concrete block and timber-framed walls with aluminium joinery and concrete tiles on the roof.

Mr Bradley said the Victoria Road/Pacific Avenue corner location of the Mission Belle put it as one of the closest motels to Mount Maunganui’s central retail hub just 200 metres away. Pilot Bay in Tauranga’s inner harbor was a similar distance, while the main ocean beach was 800 metres away in the opposite direction. Rooms on the upper level have harbor views.

The motel’s 12 units are configured into two small studio units, two standard sized studio units, five one bedroom suites and three two bedroom units. Supporting infrastructure includes a boiler/drying room with gas heater, laundry, BBQ area, reception lounge and office, and toilets.

The manager’s open plan accommodation consists of three bedrooms, a kitchen, dining room, lounge, bathroom, and toilet. Two of the bedrooms have their own ensuites, and one has its own balcony. A plaster finished wall encloses the perimeter of the property to deliver privacy for guests and the motel’s operators.

“After a bumpy year with the after-effects of the Rena spill in the summer of 2011/2012, the Mount’s tourism and hospitality sector has bounced back strongly – and the Mission Belle is reflective of that positive outlook going forward,” Mr Bradley said.

“The tenant has a strong emphasis on marketing, particularly on-line, and this has helped established a very well run business for the property.

“Part of the motel’s attraction to guests is the quality of the property as a whole, and the high degree of maintenance – both externally and internally – which is undertaken on the grounds and accommodation units.

“Working in such a prime asset has been the primary reason why the current operators have been continuous tenants for the past17 years, and with a desire to remain on until at least the end of the extended lease terms. From an investment perspective, that’s an obvious consideration when valuing an asset like this.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>


Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>


Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>


Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>


Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>



Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>


'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>


Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>


Get More From Scoop

Computer Power Plus
Search Scoop  
Powered by Vodafone
NZ independent news