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Property linked to renowned skiing family for sale
Property linked to renowned skiing family for sale
The land and buildings originally belonging to well-known mountaineering and skiing family, the Cobergers, has been placed on the market for sale.
Located in Arthur’s Pass in the heart of the Southern Alps, the property is leased to The Wobbly Kea Café and Bar - one of the few businesses of its kind in the area - servicing locals and visitors to the region. Situated on West Coast Road, State Highway 73, the property is on the major road connecting Christchurch via the Southern Alps to the West Coast of the South Island.
The freehold land and buildings, which are currently leased, have been placed on the market for sale through Bayleys Canterbury for $760,000. It is being marketed by salespeople Kate Mullins and Peter Harris.
The original home of German immigrants Oscar and Dagmar Coberger, the couple raised their family and established a successful business from the premises, providing skiing lessons, mountain guiding, and importing climbing and skiing equipment.
One of the couple’s children, Antony, had three children of his own, all of whom have taken up the family sport and skied to a top level. Arguably the most well-known of them is his youngest daughter, Annelise. In 1992 she became the first athlete from the Southern Hemisphere to win a medal at the Winter Olymics, when she won silver in the slalom at Albertville in France. Her achievements grew the popularity of alpine skiing and put New Zealand on the map as a skiing destination.
The buildings are currently leased to a café and restaurant business for a five year term commencing in November 2003 with two five-year rights of renewal and a final expiry date of November 2018. Annual rent is $65,000 plus GST.
“This is an opportunity to invest in a passive investment returning more than 8 percent to a new owner. Given the Official Cash Rate this is an investment that offers a higher return than the banks, said Miss Mullins.
She said the Wobbly Kea Café and Bar offers customers great food and drink in a comfortable environment surrounded by the region’s natural beauty.
“Set on an 890sqm section, the café and bar has a prominent location on a main route into and out of the area.
“Situated in the heart of the alpine village, the restaurant has full breakfast, lunch and dinner menus in addition to cabinet food. The fully stocked bar has an extensive range of drinks from New Zealand wines and beers to imported spirits and ales and is open every night.”
The café and bar has a warm and inviting feel, with a large gas fire to keep customers cosy during the winter months. There is outdoor seating to the rear of the building and in the summer months tables are used outside in front of the café. The maximum indoor seating capacity is 50, said Miss Mullins.
Twin garages provide ample storage and refrigeration, with a two bedroom flat above the restaurant kitchen. Heating is via a Bosky coal fired water heater burner and radiators through the pubic area, in addition to a heat pump and gas fire. A car park to the side of the building provides off street parking for customers.
Since the Coberger family sold the property in 1988 it been extensively renovated including in the 1990s when a café was incorporated into the premises. Further renovations since then have included the addition of a septic tank and soakage system, new timber and steel beams and foundations. Most recently, in 2013 most of the wall claddings on the front of the café were replaced, some internal framing and windows, double glazing and insulation installed.
Several chattels will be part of the sale including, kitchen benches, sinks, and shelving, a gas fire, stereo system, heat pump, Bosky coal fired water heater and radiators and Coberger wall-mounted skis and ice axe set.
The Wobbly Kea has also hosted a number of private functions and events. It has a large pull-down screen for special sports events or which can be linked to an overhead projector and stereo system. The stunning natural scenery and convenient location within the alpine village makes it an obvious choice for customers, said Miss Mullins.
“This café, bar and restaurant property offers a buyer the opportunity to take over a tenanted investment with the operator having an established reputation in a popular tourism destination.”
For further
information on The Wobbly Kea Café and Bar contact Bayleys
Canterbury salespeople Kate Mullins on 027 248 8456 or Peter
Harris on 027 227
6009
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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