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

 

Bad Day For Rope: Donaghys Job Losses Another Blow To Dunedin

The loss of 30 jobs from Donaghys rope and twine factory is yet another blow to the people and economy of Dunedin, says Dunedin South Labour MP Clare Curran. More>>

ALSO:

Oil: 2014 New Zealand Petroleum Summit

Simon Bridges: Our abundance of energy and minerals resources provides us with unique opportunities to build the New Zealand economy.

Over the past three years the Government has made significant changes to how the sector is regulated. More>>

ALSO:

WWF Report: Solutions In Reach; World Biodiversity Suffers Major Decline

Global wildlife populations have declined by more than half in just 40 years as measured in WWF's Living Planet Report 2014. Wildlife's continued decline highlights the need for sustainable solutions to heal the planet... More>>

ALSO:

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news