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Large-scale hotel and hospitality venue placed on market
Media Release
19.6.2017
Large-scale full-service hotel and hospitality venue placed on the market for sale
One of the largest multiple-revenue stream hospitality operations in the Lower North Island – the Mangatera Hotel in Dannevirke – has been placed on the market for sale.
One of the largest multiple-revenue stream hospitality operations in the Lower North Island has been placed on the market for sale.
The Mangatera Hotel in the Manawatu township of Dannevirke has been operating on its existing site since 1955 – although references to the public house date back to 1889 when the first Mangatera Hotel was built by pioneer settle Lawritz Triis.
The Mangatera Hotel – located on State Highway 2 between Wellington and Napier - has twice been a finalist in the Hospitality New Zealand Awards for Excellence – in the Best Hotel and Best Off License categories.
The hotel employs two full-time staff, with an additional pool of 12 part-time personnel working in all disciplines of the business during peak function and event periods, or on rostered shifts.
The business now encompasses all aspects of the hospitality market, including:
A diverse range of public, lounge, and house bars each targeting different clientele and patronage
• Fifteen gaming machines, along with a TAB betting terminal
• Conference, function, and event facilities
• A 60-seat restaurant
• Nine accommodation bedrooms
• and
• A stand-alone nationally-branded off-premise liquor retailing outlet
The Mangatera Hotel land, buildings and business are being marketed for sale by Bayleys Napier - with an asking price of $2.85 million. Bayleys Napier commercial salesperson Rodger Howie said the hotels’ buildings encompassed a total floor area of approximately 1,033 square metres, and was situated on some 4,433 square metres of freehold land.
Mr Howie said the business had been structured to ensure all aspects of a ‘country pub’ operation were catered for – with parking for up to 20 vehicles on-site, and truck and rig off street parking directly opposite the hotel.
“The services offered by the Mangatera Hotel range from ‘regulars’ who visit the hotel on a weekly or monthly basis for a quiet pint with their mates or to pick up a supply of beers and wines to take home, ‘locals’ who may utilise the hotel for its function and event-hosting capabilities such as birthdays or wedding anniversaries, corporate clients who book the hotel’s conferencing facilities as a hub central to Hawke’s Bay, the Wairararapa, and Manawatu regions, through to truckies and passing travellers who take advantage of the comfortable accommodation facilities,” he said.
“The sports bar sustains 15 gaming machines, a self-serve TAB betting service, a coin-operated pool table, and seven big-screen TVs. The bar opens out onto a fully-fenced garden bar which is widely used over the summer months.
“Additional bar facilities support the function and conference room spaces which are capable of hosting 70 guests in a seated format, with dual entry points.
“This amenity is separate from the hotel’s restaurant, which has indoor seating for an additional 60 diners – with beverages served from the restaurant bar. This area also opens out onto the patio and outdoor garden area and has a warm and rustic atmosphere.”
Mr Howie said both dining areas, along with the sports bar, were serviced by the hotel’s commercial-grade kitchen which featured gas hob grillers and ovens, a combi’ oven, deep fryers, extractor fans, walk-in chiller unit, newly-installed pizza oven, and a stainless steel high-volume plating and servery bench.
Meanwhile, the hotel’s accommodation wing is incorporated within the hotel and contains nine bedrooms in a mixed configuration of twin and double beds – all with their own tea and coffee making facilities, hand basins, and televisions. Two rooms have their own en-suites, while the remaining seven share recently renovated toilet and shower facilities.
Rack rates per room range upwards from $ 70 per night. In the last financial year the hotel recorded an average annual occupancy rate of 70 percent.
Completing the multiple revenue-streams, the hotel’s off-premise arm operates under the Super Liquor franchise umbrella from a purpose-built 375 square metre retail complex which was refurbished only three years ago. The building features a covered drive-through portico and a large chiller unit.
Mr Howie said the property also came with a three-bedroom owner/manager’s residence, and a 300 square metre storage shed and workshop.
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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