Strandon, New Plymouth

Presenting an exceptional opportunity to purchase a long term investment, leased to a modern and established Motel Operator within the popular coastal suburb of Strandon, New Plymouth.Benefitting from a triple net lease to Giverny Group Limited for a 30 year term at $204,000 plus GST with annual CPI rental increases.The Strand Accommodation comprises 16 units developed in 1971 and 2020, extensively modernised to accommodate the mix of corporate and holiday guests who support a year round, high and consistent occupancy rate. Situated on the north facing corner of Devon Street East and Strandon Place, in a popular coastal suburb on the northern periphery of the CBD, benefitting from a short walk to the Coastal Walkway and easy access to the best beaches and cafes in New Plymouth.Property being sold by Negotiation.For more information or to arrange an inspection contact:Benet Carroll0210 289 4537benet.carroll@colliers.comPlease note: all floor areas are approximated only. Features: New 30 year lease to established operator16 accommodation unitsSignificant recent upgrades including a 8-unit building constructed in 2020Site Area: 1,897 sqm (approx.)Annual CPI rental increasesNet Annual Rental of $204,000 plus GSTCorporate and leisure demand supporting year-round occupancyOccupancy rate: 79.5% average over past 4 years More information: https://www.colliers.co.nz/p-NZL67039383