A Napier motel sitting on the city’s premier beachfront promenade is available for purchase, giving buyers the opportunity to acquire an asset in a tightly held coastal location.
The Edgewater Motor Lodge benefits from its prominent position at 359 Marine Parade, a stretch of road that runs along the beach and is central to the heart of Napier’s tourism and leisure precinct.
The property sits on a highly visible corner site spanning 1,413sq m that has frontage to both Marine Parade and Edwards Street, offering guests uninterrupted views across the coastline.
The configuration of the motel includes 20 one and two-bedroom studios, many of which have covered terraces or decks. The property also has 18 dedicated car parks.
Start your property search
There is an on-site three-bedroom manager’s residence, as well as a plunge pool.
The building also holds a 75 per cent NBS rating following a 2015 assessment.
Napier’s CBD is less than 1km away, providing quick access to retail, hospitality, and commercial amenities. The surrounding area is a major drawcard for both domestic and international visitors.
The location also benefits from excellent connectivity to Hawke’s Bay’s wider transport network, with access to Napier Port, Hawke’s Bay Airport, and key arterial routes servicing the region.
Danny Blair, Director at Colliers Hawke’s Bay, has been exclusively appointed to market the property and freehold going concern for sale via deadline private treaty closing at 2pm on Wednesday 8 July, unless sold prior.
The motel property and business can be purchased together or separately.
With 1,335sq m of total net lettable area, the motel has 15 studio units that vary in size and shape, including studios with king beds, alongside studios with queen and single beds. There are also two one-bedroom units and three two-bedroom units.
The two-bedroom executive unit is split over two levels with a separate bedroom and second bathroom on the upper level.
Blair says the Edgewater Motor Lodge represents an outstanding opportunity to secure a landmark investment in one of Napier’s most desirable positions.
“With its commanding profile and sought-after beachfront location, the property enjoys pride of place along Marine Parade,” Blair says.
“As well as the existing land and buildings, this purchasing opportunity is underpinned by the chance to acquire an established business with a proven track record as a high-performing accommodation provider.
“The motel offers an appealing mix of units that cater to a range of needs for guests, while having an on-site manager’s residence provides options for the future owner who may choose to live in and run the motel or take a hands-off role and employ a management team.”
Napier has a reputation as a destination city with its popular wine region, outdoor and lifestyle activities, and the Napier Art Deco Festival that is held annually in February.
The Art Deco Festival is one of New Zealand’s largest events and regularly draws international and domestic visitors.
It also provides a considerable shot in the arm for the local economy with positive spending figures emerging across accommodation and apparel stores as well as food and beverage outlets following this year’s event, according to data from consumer spending analysts Marketview.
Marine Parade, which connects the city’s seafront to the Pacific Ocean, has a host of family-friendly activities, including the National Aquarium of New Zealand, a junior bike track, playground, skate park, and multiple gardens, ensuring the area has something for everyone.
“The subject property sits in the centre of Napier’s visitor attractions and shapes as a highly appealing purchasing opportunity for investors,” Blair says.
- Supplied by Colliers
