'Bordeaux on Cologne' Luxury Apartments
Here is a wonderful opportunity to buy an accommodation business in the thriving
Village of Martinborough.
The five self-contained one bedroom luxury apartments are cleverly designed and beautifully
presented with quality chattels. All apartments are 44m2 with a 14m2 deck totalling 58m2.
Each of the apartments has excellent kitchen facilities and attractive bathrooms with four
apartments having spa baths. The fifth apartment is an accessible apartment which has a twin
wet floor shower.
Large sliding doors open to spacious decks and individual private courtyards. Off street parking
is available to all apartments.
Excellent returns building with potential to increase revenue by increasing the midweek trade (please contact Terry to discuss figures).
The ease of operation allows for one person to operate the business.
This is an opportunity for a person seeking a lifestyle change at a pace that suits them or for an investor.
Strong Returns (Gross, inc GST):
||12% yield (21% return on cash)
||16% yield (26% return on cash)
||11% yield (18% return on cash)
||13% yield (22% return on cash)
- 5 x 1 bedroom self-contained apartments
- Could be run as long term renters or keep as short term accommodation
- Selling at $30k below CV
- Building: 58m2 each (44m2 apartment + 14m2 deck)
- Land: 961m2
- Rates: $4,786.38
- Capital value $670,000 (Sept 2011)
- 24 Cologne Street Martinborough
For more information or to arrange a viewing please contact Terry on 021 126 5552.