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Council-owned holiday park pitched for sale
Council-owned holiday park pitched for sale
A popular Rotorua holiday park has been placed on the market as a freehold going concern.
Holdens Bay Holiday Park, land, buildings and business, located in a residential area east of the city, close to the lake front is being sold by Rotorua Lakes Council.
The council bought the property from a private owner in 2007 to facilitate airport runway extensions and civil aviation safety provisions. It has now been identified as surplus to needs, with money from the sale expected to go towards reducing the council’s current debt level.
Located at 5 and 21 Stonebridge Park Drive, the holiday park is a popular accommodation provider with national and international visitors.
The well-presented property comprising 16,000sqm of grounds is being offered for sale through an auction process on May 14, with Bayleys Rotorua. The property includes a manager’s accommodation, 12 motel units, 21 cabins, 50 powered campsites, outdoor swimming pool, hot pools, children’s play area, conference and games room and reception/shop. The manager’s current residence, a four-bedroom house at 4 Stonebridge Park Drive, is being sold separately.
Bayleys Rotorua salesperson Mark Slade, who is marketing the property with colleague Mark Rendell, said the location and amenities of the holiday park made it a popular accommodation choice with customers and an appealing investment for an astute buyer.
“The business is only 800m from the lake edge, 1.9km from the airport, 7.6km from Rotorua’s central business district and only a few minutes’ drive to numerous other tourist attractions the city has to offer, such as hot pools, the luge and Rotorua’s famous Redwoods,” he said.
“The park combines the sought-after features of an accessible location, well-maintained buildings, and park-like grounds next to Waingaehe Stream.”
Holdens Bay Holiday Park offers a wide range of accommodation for every budget including, one and two-bedroom motel units, one and two-bedroom cabins and campsites. Nightly tariffs range from $20 an adult and $10 a child for a powered site, up to $130 for two adults for a two-bedroom motel.
Guests can enjoy a fully equipped central block of communal amenities including, a laundry, kitchen, and men’s and women’s bathrooms, as well as a clothesline, barbecue, fully fenced swimming pool, hot pools, children’s play area, and for the fishing enthusiasts, a fish-cleaning area. Bookings for the park can be made through the website.
A two-storey, four-bedroom, house built in the 1970s house is being offered for sale separately to the holiday park. The floor area is 248sqm, built on a 789sqm section. This property has a capital valuation of $254,000.
Mr Slade said the holiday park buildings, which have a total area of 1,555sqm, were well spaced out within the grounds, creating a relaxed, open atmosphere. Over the years the four-star Qual mark-rated accommodation business has gained an excellent reputation.
“This popular holiday park is located on an interesting and beautiful site. The property presents an exciting business opportunity for a new owner to take over a highly-regarded accommodation business operation in an extremely popular tourism destination.”
“A new owner could move straight in and take over an established business which already has a recognised leisure clientele and enjoys a high level of repeat business.”
Turnover for the year ending 31st March 2015 was $303,906 plus GST. Further financial details including operating costs are available on request and through a confidentiality agreement.
Mr Rendell said there was potential to develop the site. The workshops and storage buildings could be developed into additional accommodation, and there is ample space to build additional accommodation units on-site, he said.
“Alternatively, underused sections of the grounds could be converted into an additional business such as a small retail shop, or a children’s bike track, adjacent the children’s play area, or a heated swimming pool, which could be developed as commercial businesses and opened to the public.
The holiday park is currently operated by two managers and cleaning staff, under a management contract that is due to finish in May 2015. A new owner would have the option of continuing to have the business operated by the current managers, who would like to stay on, said Mr Slade.
Holdens Bay Holiday Park is a freehold, going concern, with a capital value of $1.62 million.
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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