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

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news