South Island gateway lifestyle and investment
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About this business for saleSouth Island gateway lifestyle and investment
Asure Jasmine Court Motel is a beautifully designed modern motel with loads of 'street appeal'. Located in the thriving seaside town of Picton in the world famous Marlborough Sounds, Jasmine Court offers modern, spacious and very comfortable accommodation in the heart of Picton.
Reasons to buy this property
- Qualmark 4 star plus
- Rated #3 out of 17 on Trip Advisor
- Broad range of units
- Conveniently located
- 30 year lease tenure
The complex has 19 units offering a range of units, ample guest parking and secure motorbike storage. The units comprise:
- 3 * 1 bedrooms
- 2 * 2 bedrooms
- 12 * studios
- 2 * apartment style studios with full laundry facilities
The owner's accommodation is a 3 bedroom residence with lounge, kitchen and 1 bedroom with bathroom on the ground level and 2 bedrooms and a bathroom upstairs.
Currently successfully run by a manager and with gross revenue on an upward trend, the landlord has decided to sell a 30 year lease, with the opportunity for a new motivated owner to build the business and leverage off the growth in tourism that NZ is currently and projected to experience.
Jasmin Court Motel is situated close to the Picton waterfront, inter island ferry terminal and railway station. Across the road is a major supermarket for guests' convenience and a short stroll to Picton's cafes, bars and restaurants.
Picton is the starting point for explorations of the Marlborough Sounds and the gateway to the South Island of NZ. Picton is also a convenient stopping off point for travelers leaving and arriving on the popular Interisland ferry. The ferry operates between Wellington (NZ’s capital city) and Picton and carries an estimated 1 million passengers annually.
*Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.