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Grand Oamaru Property With Massive Potential Absolute Bargain For Sale

Oamaru, Otago
Asking Price:
$695,000 (NZD)
Sales Revenue:
Under $100K (NZD)
Cash Flow:
Under $50K (NZD)

The owner has just drastically reduced the price for a quick sale. This has to be an absolute bargain!! Oamaru is really taking off and this property is prime buying for someone with a keen eye for a genuine opportunity.

Constructed in 1864 a gracious home ‘The Manor Estate’ has undergone several transformations over its lifetime. It was converted to an Events Centre in 1958 and is fondly recalled by many locals who have attended weddings, business functions, 21st parties and other events since that time. It is now used for functions and as a B & B.

The (approx) 700sqm building includes a spacious function room, two ‘reception’ rooms, café and 3-4 bedroom accommodation wing with open plan kitchen/living/dining, family room and two bathrooms. It currently has a liquor license together with existing-use-rights for events including weddings, dinners, celebrations & concerts, and as cafe and B&B. With some areas in relatively original condition this is priced accordingly. A new owner will be excited by the many possibilities available.
It would be remiss to not mention the wonderful (approx) 6,895sqm landscaped grounds – a superb elevated site with sweeping views over Oamaru.

This property represents incredible value to the right buyer who has the vision and resources to do something truly special.

Priced at $695,000 plus selected Plant & Equipment (all plus GST if any)

Property information

Real Estate:

Real Property Included

Location:

Wonderful (approx) 6,895sqm landscaped grounds – a superb elevated site with sweeping views over Oamaru. The whitestone townscape of Oamaru contains some of the best-preserved heritage buildings in New Zealand. In the late 19th century, the town prospered through gold-mining, quarrying and timber milling. Some of the wealth was spent on elegant stone buildings made from local limestone. The Harbour-Tyne Street area is particularly special – and the shopping is great too.

Premises Details:

The (approx) 700sqm building includes a spacious function room, two ‘reception’ rooms, café and 3-4 bedroom accommodation wing with open plan kitchen/living/dining, family room and two bathrooms. It currently has a liquor license together with existing-use-rights for events including weddings, dinners, celebrations & concerts, and as cafe and B&B. With some areas in relatively original condition this is priced accordingly. A new owner will be excited by the many possibilities available.

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