Westport, Buller

Mining boom pending! Westland Mineral Sands just south of Westport has been granted a $30m government loan for its proposed $70m mineral separation plant at Cape Foulwind. Accommodation providers in the town already enjoy quite steady trade, so this shot in the arm should be a real boom.Huge potential here for the right operator! A lot of property and potential profit for this money! This is a seriously good opportunity. The vendors would consider finance assistance for the right operator – is this you?Great central location sited on over 4,000 square metres, 27 hotel rooms, 80 to 100 seat restaurant, three bars including conference room and 28 car parks. Liquor store currently on short-term lease to a reliable operator, happy to stay on.This part of town was not subject to flooding. The property is fully insured, including for natural disaster. Buildings have had significant upgrades to bring them up to 67% NBS and the rooms are well presented.This property is offered well below rateable value for the land and buildings alone by motivated absentee vendors, because it currently is not operating. (Further reasons for this can be discussed.) As such, recent financial performance information is not available. We are able to provide spreadsheet projections on the accommodation side of the business, illustrating various revenue and profitability scenarios.The town of Westport has gone from strength to strength in recent times. It now seems to have quite a vibe and has plenty more potential. Recent performances for other accommodation businesses we have dealt with show the steady and growing business being enjoyed here.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 or enquire direct to KELVYN COFFEY.