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High-profile corner-site motel land and buildings for sale
4.6.2019
High-profile corner-site motel land and buildings placed on the market for sale
The land and buildings housing a strong-performing motel located at the axis gateway to one of Auckland’s busiest weekend holiday-home regions have been placed on the market for sale.
The Walton Park Motor Lodge is located on the intersection of State Highway One and Whitaker Road – one of the main routes leading into the township of Warkworth just north of Auckland. The 26-unit accommodation business has been operating successfully on the site for 40 years.
Walton Park Motor Lodge’s 1,770 square metres of accommodation is spread over two levels and features a configuration of studio, one and two--bedroom units facing onto a fenced central swimming pool area. The property also has an owner’s dwelling with garage parking and a small meeting or functions room.
The motel sits on 3819 square metres of land and includes a two-storey four-bedroom owner/manager’s unit and office. The motel has vehicle entry points off both Walton Avenue and Hauti Drive, with on-site car parking for 30 vehicles.
All accommodation units contain their own kitchenette with cooking equipment, and refrigerator, with access to shared laundry facilities.
Walton Park Motor Lodge’s operator has a 27-year lease on the site running through until 2044 – returning $161,050 plus GST per annum, with rental reviews every two years. Walton Park Motor Lodge’s operator pays all operating expenses, as well as rates. In addition to rent, the tenant also pays six percent of the annual rent into a separate property maintenance fund.
Now the Walton Park Motor Lodge freehold land and buildings at 2 - 4 Walton Avenue are being marketed for sale by tender through Bayleys Warkworth, with tenders closing at 4pm on June 27. Salesperson Henry Napier said both the current asset owner and the tenant were fastidious about property maintenance at the premises.
“The lease also allows the motel operator to renovate six rooms annually on a rolling schedule – ensuring that the decore and guest amenities remain at a very high standard. In addition, the tenant is required to repaint the property every nine-years,” Mr Napier said.
“On top of these undertakings, the property maintenance contribution of around $15,000 annually has enabled regular and comprehensive upkeep to area such as boundary fencing, the swimming pool area and vegetation control.
“As a consequence of on-going maintenance and improvements, all of the property’s buildings, interiors, and furnishings are in outstanding condition for their age – meaning the motel not only runs at a high occupancy rate, but also achieves excellent room yields for what is a provincial location.”
The Walton Avenue property is zoned Residential Single House under the Auckland Council Plan.
“Walton Park Motor Lodge sustains its occupancy rates across multiple guest sectors – from the weekend leisure market attending events and functions in nearby Matakana and the Mahurangi Peninsula, through to commercial travellers who enjoy its immediate proximity to State Highway One,” Mr Napier said.
“The row of lofty palm trees running along the lodge’s boundary onto Whitaker Road make Walton Park Motor Lodge instantly recognisable from the motorway.”
ends
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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