Quest Napier lease for sale by Ian McLachlan and Jack Elliott of Colliers International
Located at 176 Dickens Street in the heart of Napier City, the property is tenanted by four star accommodation provider, Quest Napier who was awarded Quest New Zealand Franchisee of the Year in 2011. A new 10 year lease has been negotiated with a net rental of some $556,000.00 per annum plus GST, which will be executed before settlement.
Whist it still retains its original Art Deco features, the property underwent extensive renovations in 2008 and now comprises 47 modern apartments with a mixture of studio, one bedroom and two bedroom apartments as well as 22 exclusive car parks. Of the 47 apartments, 41 remain under the lease, with the remaining 6 self contained apartments retained by the new owner and able to be rented separately.
Its premier location in central Napier, means it is a stone’s throw from the main retail precinct, a large selection of top restaurants and cafes and Napier’s scenic stretch of waterfront, Marine Parade.
An excellent opportunity to secure a piece of iconic Napier.
See also:
Poroti Tavern Freehold Real Estate and Business For Sale
The Waterfront Hotel and Salt Restaurant, New Plymouth For Sale