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Mayfair, 1120 Karamu Road North

Hawke's Bay Freehold Investment

Price by Negotiation

  • Listing Number: NA5884
Property Information
- 2451m² freehold land with 14 unit motel
- Long term lease
- Central location, close to the Hawke's Bay A & P showgrounds
- Annual rent $118,940 net P.A

Fairmont Motor Lodge is just minutes from the Hastings CBD, Splash Planet theme park, Havelock North and is located down Karamu Road with easy access to Napier.
14 self contained units offer all the modern amenities ranging from studios/executive studios, one bedroom/one bedroom twin units, two bedroom suites and 2 x bedroom apartments.

Ideal for corporates, families and travellers, Fairmont Motor Lodge also has a swimming pool for the hot Hawke's Bay summers plus a dairy next door for convenience. The dairy is also part of the lease.
Land Size2451 sqm
TenureFee Simple
ParkingCarparks: 23
Property TypeTourism / Motel / Hotel, Other, Tenanted Investment
Tenancy 1Commencement Date: Sunday, 1 January 2017, Expiry Date: Wednesday, 1 January 2042, Rental net/gross p.a.: 101940.00, Rights of Renewal: Karamu Dairy - 10 years from 6th March 2017 - rent net $17,000 per annum, Tenant Name: Carole Ann + Paul Cropper, Term (years): 25

Contact Details

Napier

Regent Realty Ltd

Licensed REAA 2008

308 Hastings Street
Napier South
Napier
Office website

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