The Dolphin Motel in Paihia will go under the hammer today. Photo / Bayleys
The Dolphin Motel in Paihia will go under the hammer today. Photo / Bayleys
A Far North motel is under the hammer and has a summer full of bookings, according the the real estate salesman managing today's auction.
The ten-unit Dolphin Motel in Paihia will be auctioned having operated under the same ownership for 22 years.
Rack rates for the motel range from $155to $450 - with the property averaging an annual occupancy level of 67 per cent.
The Williams Rd motel sits on 1011sq m of land and encompasses a one-bedroom manager's unit and office.
Bayleys Real Estate salesman Paul Dixon, who is managing the property, said a potential and negotiable one-month settlement date after auction could allow any new owner to take over the business early in the new year and benefit from the summer holiday period.
"The motel already has strong advance booking numbers through until Easter in April - thereby delivering an instant cash flow to any new ownership. This is a far more attractive option than taking on a tourism-reliant business over the quieter winter months," he said.
The business also had a franchised website and bookings system, which also supported other IT-related operations software.
