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The Bream Bay Motel

FREEHOLD GOING CONCERN

With the population growth, the Auckland motorway is extending from Puhoi to Warkworth to be completed by 2019, with a further extension of Warkworth to Wellsworth to be completed in 2022, which will see the Bream Bay / Ruakaka Beach boom as it provides the only beachfront close to the State Highway.

The Bream Bay Motel sits on 4000m², bordering the reserve with a large grass area and children's playground, adjacent to the surf lifesaving club with spectacular ocean views and approximately 25 minutes into Whangarei or approximately 1hr35min to the Auckland harbour bridge.

Bream Bay has been recognised for its idyllic coastal lifestyle with the recent Marsden Cove waterway Hopper development, Marsden City and Northland Port development. Ruakaka shopping centre offers all amenities with a massive expansion currently underway. The Ruakaka racetrack is one of New Zealand's leading race facilities and a major attraction throughout the summer. With a reputation of some of the best greens in New Zealand, the prestigious Waipu golf club presents the golfer with a naturally sand based course suitable for all seasons and unsurpassed views.

The Bream Bay Motel business was established in 1965 and is on the market for the first time in 50 years! This freehold going concern offers 18 self contained units, (5x studio units, 8x one bedroom units and 5x two bedroom units) with a BBQ area, guest laundry, three bedroom manager's accommodation and a separate two bedroom house with 4 car garaging. The occupancy rate is continuously rising with a good level of turnover.

When you look at this opportunity through developer's eyes, you see more than a motel. There are many avenues to maximise the redevelopment potential, the most lucrative option being a unit title subdivision to meet the influx of buyers looking for the perfect weekend getaway or relocation to paradise. Leading architects, Advance Design, confirm this as the ultimate coastal redevelopment opportunity. The Motel can continue to operate while developments take place, providing a sustainable income.

This forecast presents a high tide of return on this ultimate coastal redevelopment.

Tender closes 4pm Thursday 5th November (unless sold prior). For more information, a full information prospectus and terms & conditions, contact Allan Inglis soldit@xtra.co.nz

FNW12529
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