Bring the builder along and redevelop the whole site or run this lucrative motel with two neighbouring properties and land bank for the future.
This sale includes a profitable East Coast FHGC motel opposite Gisborne Hospital, just five minutes from the CBD, on a 2,093sqm (more or less) corner site with two access points. Also included are two neighbouring fee simple homes: a 4-bedroom, 2-bathroom 190sqm home on approx. 709sqm at 390 Ormond Road, and a 3-bedroom, 2-bathroom 130sqm home on approx. 709sqm at 388 Ormond Road. Together, the 3,511sqm (more or less) site offers a rare development opportunity with significant existing income.
Offering 13 spacious self-contained units with 4-bedroom owners' residence, plus the two neighbouring 3- & 4-bedroom homes, modern amenities, & easy access to shopping, dining, the airport and Gisborne's renowned beaches, it is a consistent high performer, with outstanding guest reviews, and very inviting net profits, providing a consistent mix of hospital-related, corporate and tourism demand, creating year-round occupancy appeal.
For developers, the key question is not simply what exists today, but what this strategically located, sizeable land could become.
Act now to secure this land bank for immediate income & future potential!
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.
Some details of this listing are confidential and can only be disclosed upon completion of a confidentiality agreement, included in the Information Memorandum.
We would welcome your enquiry via this website or direct to CHRIS D'ANVERS 09 281 0265.
