Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Record breaking South Island portfolio comes to the market

Record breaking South Island portfolio comes to the market

Jones Lang LaSalle has been appointed by The Group Holdings to market a rare portfolio of seven properties, totalling over $47 million. Portfolios of this size are extremely uncommon and often only come onto the market once in a cycle.

A diversified and large portfolio of properties has come to the market and provides investors with a unique opportunity to capitalise on the growing tourism sector in New Zealand’s South Island.

The portfolio consists of three leased luxury boutique hotels, a large commercial building centre, two blocks of development land and another entity comprising of a retail outlet, backpackers and adventure hire centre.

Justin Kean, Jones Lang LaSalle’s Head of Research and Capital Markets says, “These assets represent a diversified property offer that is further up the value-added spectrum than a traditional core asset. Core assets across New Zealand have been priced up over the last 12 months.”

Justin continues, “We tend to see this happening during this stage in the property cycle where by investors have to move out of that core, comfortable and low-risk space, and take on assets that are not necessarily traditional investments but are better, more viable income earners and have a high yield.”

According to Statistics New Zealand, international visitor arrivals from December 2012 to December 2013 rose by 6.0%, taking visitors to a total of 2.7 million people during the year. There is a distinct strengthening in the tourism sector and certain hot-spots that are benefiting from this growth include the Nelson, Blenheim and Queenstown areas.

John Binning, Jones Lang LaSalle’s agent that has been appointed to market this portfolio says, “With New Zealand’s strong economic growth and such a positive tail wind from the tourism sector this diversified portfolio offers considerable exposure to the parts of the country that are doing well out of current market conditions. Adding this to the fact that there has been very little new supply in the South Island outside of Christchurch, this portfolio represents a rare opportunity to access assets of scale.”

The seven properties for market include; Nugget Point Spa Resort, located in Queenstown. The hotel is a forty room, luxury 5 star rated hotel incorporating a health spa and gymnasium, tennis court, squash court, home theatre, wine tasting cellar, as well as conferencing and wedding facilities.

An adjoining 1.2 hectare land-block, which is adjacent to the resort and capable of building a two hundred room luxury hotel extension to the existing accommodation.

Awaroa Lodge, located within Abel Tasman National Park, Nelson which has twenty-six villa type rooms and is the only luxury accommodation hotel in the Abel Tasman National Park, regarded nationally as one of the best Eco lodges in New Zealand.

Portage Resort Hotel, located in Kenepuru Sound, Marlborough Sounds, Blenheim, located directly on the sea edge with a marina next door and a wealth of opportunity to diversify.

Portage Country Shop, Cafe, Hire Centre and Backpackers lodge. Located on land adjacent to the Portage Resort Hotel, the shop offers support to the hotel by catering for adventure hire of kayaks, mountain bikes and fishing gear.

123 Halifax St, a 2.1 hectare land block on edge of CBD, Nelson. The development site is currently being cleared of housing so that better access can be gained to the land available for a hotel or retirement complex.

And lastly, Mitre 10 Mega, Commercial Building and retail outlet in Blenheim, built on 1.82 Ha of land.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Fairfax Moves To Create Modern Newsroom

Fairfax Media New Zealand continues its newsroom transformation this week, with a proposal to further organise its editorial operations into focused, local teams and specialist national topic areas. More>>

ALSO:

Dairy: Fonterra Forecast For 2015/16 Season

Fonterra Co-operative Group Limited has today reduced its forecast Farmgate Milk Price for the 2014/15 season to $4.40 per kgMS. Along with its previously announced forecast dividend range of 20-30 cents per share, the change amounts to a forecast ... More>>

ALSO:

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>


BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news