Iconic freehold hotel investment
A rare opportunity to secure this heritage building in the heart of Frankton, Hamilton, an area experiencing significant redevelopment and gentrification. Currently operating as the Frankton Hotel returning $104,000p.a + GST/OPEX plus a maintenance fund of $6000p.a inclusive of GST.
The original hotel called the Railway Hotel was built in 1878 as a watering hole for the railway workers and rail passengers to help service the busiest railway junction in New Zealand. Due to a fire in 1885 a new hotel was built and in 1929 the Frankton Hotel was lifted onto rollers and moved to its current position by a team of draught horses. The hotel has been extensively refurbished under the watchful eye of former All Black Graham (Moose) Whiting and the new owners offer a complete package of accommodation, conference and function facilities plus the very popular pub, Aleways Inn.
The property is an earthquake prone building, however the current owners have obtaining approval for financial contribution by the Ministry for Culture and Heritage for the design phase of earthquake strengthening of the building with potential to get further funding from other sources.