One of the Waikato’s newest motel complexes offering smart 4-star accommodation in the heart of Hamilton has gone up for sale with a long lease to a leading New Zealand operator.
Sitting prominently on a corner site five minutes’ walk from Chiefs rugby fortress FMG Stadium Waikato, and a short drive from the city centre, the new 15-unit complex is well-positioned in a city which is known for its strong motel market, but is short of units.
The city’s location within easy range of Rotorua, Tauranga, and Auckland with its international airport, has Hamilton tipped as an increasingly attractive base to capture both domestic and international visitor demand.
The just-completed motel complex for sale in the city-fringe suburb of Frankton is being offered with a yet-to-be-announced new long-term lease to a leading New Zealand operator of multiple motels.
Initially returning $210,000 plus all outgoings and GST per annum, the lease will run for 20 years with a further 20-year right of renewal.
Bayleys hotels, tourism & leisure national director Wayne Keene said Hamilton was a compelling location for a new motel.
“Hamilton has always been a very strong motel city catering to corporates, tourists and families, which is plain to see in the wide offerings across the city – though the supply of motel and hotel rooms has fallen short of demand.
“Many motels are now also opting to help people in need through government funding rather than the traditional model of targeting the Monday-to-Friday corporate traveller and weekend visitors for events.
“With new and improved expressway and train connections, Auckland is now closer than it’s ever been and access to people across the upper North Island has never been easier. This all adds up to a strong business case for the Waikato which will underpin future demand for motel accommodation in Hamilton,” Keene said.
The freehold land and motel buildings at 45 and 45A Norton Road, Frankton, Hamilton, are being offered to buyers by Millie Liang, Wayne Keene and Steve Pett of Bayleys Real Estate.
The complex will be sold by way of a tender (unless sold prior) closing on Wednesday 2nd August.
Liang said the approximately 520-square-metre motel buildings sat on some 923 square metres of land across two freehold titles.
“Just completed in early 2023, this smart two-level complex contains 15 self-contained studio units, a manager’s office to provide on-site assistance, and a laundry storeroom.
“Each unit provides a self-contained living space, including a bathroom and kitchenette. The ground floor houses five units covering some 190 square metres, while the second floor accommodates a further 10 units spanning about 330 square metres.
“Overall, this modern, high-quality complex provides a well-equipped and accessible living environment. The variety of amenities and thoughtful design contribute to a comfortable and enjoyable living experience,” Liang said.
Seventeen parking spaces, including two disabled access parks, are available in the sealed yard, ensuring convenient access for motel occupants and their visitors.
Pett said the new motel benefited from prominent street frontage at the corner of Norton Road and Hall Lane.
“The property is conveniently positioned just off main arterial State Highway 23/Route 9 which crosses the city, and around three minutes’ drive from State Highway 1C offering highway connections towards Auckland, Rotorua and Tauranga.
“Visitor demand in Hamilton is supported by popular attractions such as the internationally renowned Hamilton Gardens, Waikato Museum, and the soon-to-be-delivered Waikato Regional Theatre, while Hamilton City Council venues arm H3 is eyeing more events for the city.
“The new motel is less than 1.5 kilometres from the Centre Place shopping centre and Sky City Hamilton. With the lack of good motel accommodation in Hamilton city and the growing demand for quality product, it is anticipated that the business will trade well,” said Pett.