The Honest Lawyer pub is the latest hotel for sale by Colliers International Nelson broker Ken Montgomery who has been exclusively appointed to market 1 Point Road, Monaco, for sale by negotiation.
A landmark Nelson peninsula property, home to well-known pub The Honest Lawyer, is on the market. Colliers International Nelson has been exclusively appointed to market 1 Point Road, Monaco, for sale by negotiation.
Broker Ken Montgomery says the 1.3ha freehold property offers solid rental returns and plenty of add-value potential.
“This unique property occupies an entire peninsula on the edge of the sheltered and picturesque Waimea Estuary, right next to the well-known suburban Monaco peninsula,” he says.
“The tip of the peninsula for sale includes some 3,400sq m of vacant land suitable for residential or commercial development.
“This is a superb opportunity for add-value investors or residential buyers looking for a new-build site with the added bonus of a solid commercial rental income.”
The Honest Lawyer was built in 1995 in the style of an old English pub, and has been trading solidly since then.
“This unique hospitality complex boasts bars, a restaurant and dining rooms, a range of accommodation units and an extensive waterside garden area,” Montgomery says.
“Vintage artefacts add to the quaint country pub feel, making it a popular venue for weddings and functions, overnight lodgings, or simply enjoying drinks in the sun with friends.”
Montgomery says the neighbouring Hotel Grand Mercure Monaco Resort helps to drive the pub’s business, with resort guests often wandering across the road to investigate the unique hotel for dinner and drinks.
The Honest Lawyer’s lease has almost five years remaining, with two further rights of renewal of six years each.
The lease is currently returning $291,795 per annum plus GST, with the tenant responsible for all outgoings.
For further information on the sales process contact Ken Montgomery of Colliers International.
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