Investment - Well Leased Long Term - Prime Location

Fantastic opportunity to purchase the freehold land and buildings only, as a fully leased investment in this absolute prime location on George Street, Dunedin. Excellent long term lease (26* years to run) in place to a motel business tenant through to 2050*. Includes Tenant redecoration clause for the Tenant to redecorate every 4 years, keeping your investment well maintained.

This popular Dunedin motel has 18 modern units, consisting of studios and 1 & 2 bedroom units plus a large owners accommodation with 3 bedrooms, 2 bathrooms, open plan living and separate large lounge. Total building area 1,068m2*.

Situated on 1,445m2* of land zoned Central Business District which underpins the value of your investment.

Well located opposite the popular Lone Star Restaurant and is between the city's centre and Otago University so is only a short walk to 'The Octagon', top retail shops, hospitality venues and the University of Otago.

Built circa 1999* the exterior was totally refurbished in 2023*.

Private inspection will impress.
(* approx.)

Call sole agent Don Hunter on 027 434 5201 for more information.

Sale: $4,600,000 + GST (if any)