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Multi-purpose Taranaki hospitality venue goes on the market
Multi-purpose Taranaki hospitality venue goes on the market for sale
One of Taranaki’s most versatile hospitality businesses – with three separate revenue streams – has been placed on the market for sale.
Kairau Lodge on the northern boundaries of New Plymouth operates as a boutique accommodation provider, function venue for both the corporate and leisure markets, and vineyard with associated winery.
The two hectare Kairau Lodge property contains a 220 square metre four-bedroom lodge-style dwelling, encompassing a large function venue room. The vineyard comprises both sauvignon blanc and pinot noir varieties made up of 1150 vines and an associated fully functional on-site winery and bottling plant. The property also includes a separate single room owner/manager’s residence.
The Kairau Lodge land, buildings and business are being marketed for sale by Bayleys New Plymouth salesperson Neale Parkinson through a tender process closing on July 7. The main lodge structure was built in the late 1980s.
Mr Parkinson said the Kairau Lodge business and associated vineyard/winery activity benefitted from its diversity of multiple yet intricately linked vertical revenue streams.
“It’s a perfectly seamless business model… the Mountain Road vineyard and winery produce the wines, which are poured at functions and events held at Kairau Lodge. The lodge’s formal gardens and vineyards in turn provide the landscape backdrop settings for the likes of weddings and formal occasions,” he said.
“Meanwhile, the accommodation within the lodge itself provides rooms for guests attending everything from corporate board meetings through to bridal parties.
“Each of those proven income streams has further growth potential – building on the existing platform of almost a decade of consistent incomes which have broadened across non-competing sectors all in one location,” Mr Parkinson said.
“For example, there is the potential to utilise the owner/manager’s dwelling for additional accommodation. A small room in the main lodge, currently used as an office could be used as a study or meeting break-out room and of course may easily also be developed into a fourth bedroom to add to the accommodation pool.
“Alternatively, there is substantial space adjacent to the tar sealed car park to add at least four or five new suites. There is also a substantial neighbouring landholding available, to add more rooms and bigger function amenities.”
Mr Parkinson said potential buyers also had the opportunity to purchase an adjoining
6.387 hectares of fertile grazing land bordering the Waiongana Stream. The
well-maintained block on a separate title has a range of sheds and a cattle yard, and could sustain a configuration of buildings or ancillary activities such as archery or clay bird shooting.
Kairau Lodge is situated a 10 minute drive north of New Plymouth city centre, and has a nightly rack rate of $135 per room. For conferences and functions, the premises can comfortably host up to 15 people in a theatre-style configuration, at a daily charge of $300 plus GST.
Function entertainment space can be extended into the lodge’s covered patio area which steps out onto a magnificently manicured lawn that surrounds the 95,000 litre swimming pool.
The lodge’s flat ‘carpet- like’ lawn has comfortably worn a number of large weddings, with the main lodge dwelling’s kitchen, stand-alone BBQ facilities in a separate cabana-covered area, and bathroom amenities more than capable of catering to guest numbers.
Weddings at Kairau Lodge’s pristine English-style gardens with the wedding breakfast hosted in the main lodge, can be booked for $1500 with tailor-made food and beverage packages added. These can be prepared at the lodge’s kitchen.
The pinot noir and sauvignon blanc grapes at Kairau Lodge vineyard have individually produced between one and six barrels of each variety. The wines are marketed under the Mountain Road label. The 1150 vines were planted in 2004, and began producing commercial quantity harvests in the 2006/2007 season.
The vineyard employs both a contract viticulturist and contract wine maker. In the 2014/15 season the winery produced 104 cases of sauvignon blanc and 82 cases of pinot noir.
ENDS
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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