The motel is leased to them through to 2021, with an optional two-year extension and a further five-year right of renewal with the rent reviewed every two years.
The accommodation units are split into three wings, totalling 677sq m of space. The motel buildings are constructed of reinforced concrete with plaster finish over a mix of concrete block and timber-framed walls, with aluminium joinery and a roof of concrete tiles.
Bradley says the Victoria Rd and Pacific Ave corner location of the Mission Belle puts it in a strategic position as one of the closest motels to Mount Maunganui's central retail hub, just 200m away.
Pilot Bay in Tauranga's inner harbour is a similar distance from the motel, while the main ocean beach is 800m away in the other direction.
The motel's 12 units are configured in two small studio units, two standard-sized studio units, five one-bedroom suites and three two-bedroom units. Rooms on the upper level have harbour views.
The supporting infrastructure includes a boiler and drying room with gas heater, laundry, barbecue area, reception lounge and office, and toilets.
The manager's open-plan accommodation consists of three bedrooms, a kitchen, dining room, lounge, bathroom and toilet.
Two of the bedrooms have en suites, and one has its own balcony. A plaster-finished wall encloses the property to deliver privacy for guests and the motel's operators.
"After a bumpy year with the after-effects of the Rena spill in the summer of 2011/2012, the Mount's tourism and hospitality sector has bounced back strongly, and the Mission Belle is reflective of that positive outlook," Bradley says.
"The tenant has a strong emphasis on marketing, particularly online, and this has helped establish a very well-run business for the property.
"Part of the motel's attraction to guests is the quality of the property as a whole, and the high degree of maintenance, both externally and internally, that is undertaken on the grounds and within the accommodation units.
"Working in such a prime asset has been the primary reason why the current operators have been continuous tenants for the past 17 years, and have a desire to remain on until at least the end of the extended lease terms.
"From an investment perspective, that's an obvious consideration when valuing an asset like this."
