Freehold property known as ‘Esplanade Motel"

Situated in the highly sought-after Fitzherbert Avenue opposite Victoria Esplanade, on offer is the freehold property currently tenanted until 2041. The motel consists of 12 units plus a super-sized detached Conference Suite for up to approximately 24 persons, Boardroom style or up to 50 persons Theatre style, plus toilet facilities. The managers' accommodation consists of a three-bedroom house, a commercial kitchen not currently registered. Three bedrooms, two bathrooms and a separate lounge and dining room. Land Area is 2,423 m2 more or less. Building area is 866m2 more or less. Rating Values as at 1st September 2024 are CV $2,720,000, Land Value $1,790,000, Improvement Value $930,000, source QV.
For sale price by negotiation.