The Avondale Motor Inn which is for sale at 85 Ash St, Avondale.
The Avondale Motor Inn which is for sale at 85 Ash St, Avondale.
A modern motor inn and conference centre in Avondale is for sale with a secure tenant on a long-term lease in an area likely to benefit from the completion of the nearby Waterview Connection linking the State Highway 20 southwestern motorway to the State Highway 16 northwestern motorway.
The AvondaleMotor Inn with 18 rooms and a manager's apartment at 85 Ash St is being marketed for sale through Meir Alfassi of Harveys Te Atatu by expressions of interest closing at 4 pm on Tuesday, September 10, with the offers expected to be over $2.3 million.
"The motor inn markets itself as providing luxury accommodation at affordable prices and is close to the Lynmall and the Avondale shopping centres," Alfassi says.
"This large freehold property is a highly desirable prospect for an investor with a long term outlook," he says.
Built around 2000 to replace a former older motel long established on this property, the 853 sq m building area encompasses the manager's accommodation and a small conference facility at the front of the property with a detached two level accommodation block to the rear. The 2064 sq m Residential 6A zoned site also provides parking facilities at the rear of unit as well as for the conference centre. A fully fenced pool complex features in the centre of the property behind the conference facility.
"An attraction to investors of this property is its 30 year lease to the motor inn operators with two yearly rent reviews built in," Alfassi says.
Some of the motel units within the Avondale Motor Inn complex.
Tenant Vi Dhriti Ma Limited currently pays $130,000 net annual rent on a lease commencing November 8, 2010, with two year rent reviews built in.
The motor inn is in a strategic location for an accommodation provider with the property situated on the northern side of Ash Street - a busy main road connecting with Great North R and forming a by-pass from the Avondale shopping district. The Rosebank Rd business district starts at one end of Ash Street and the southwest end leads directly to the New Lynn retail and commercial hub."
Immediate neighbours are largely residential homes of a bungalow style and dating to mid 1900s. "More recently sites of sufficient size in the area have seen continuing development of townhouses and flats," Alfassi says.
Meir Alfassi of Harveys.
Avondale Racecourse, the site of a popular weekend market, is across the road along with several other commercial ventures in the immediate vicinity including a service station, retirement village and fast food outlet.
Nearby is Whau Creek with a nature reserve, sports and recreation grounds.
General construction of the motor inn is concrete foundations, with concrete slab lower floors and concrete or particle board upper floors. External walls are texture finished, fibrolite sheets and wood grain fibro plans complemented by powder coated aluminium joinery while internal walls and ceilings are made of 'gib' board. The gabled rooflines are of pressed metal tile clad with Colorsteel spouting.
Alfassi says the motor inn is only 15 minutes' drive from downtown Auckland and only a short drive to Motat, Auckland Zoo, Western Springs and St Luke's shopping centre.
It is handily situated for visitors heading for West Auckland's vineyards, the Waitekere Ranges and several golf courses.
"Henderson, West City and the Westgate shopping centre are also relatively close via the northwestern motorway with on-ramps at Rosebank Rd or Point Chevalier," Alfassi says.
