Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Suite deals on offer as hotel property portfolio launches

6.12.2019



A selection of hotels currently in their design and build phase, a range of provincial properties, and an island resort which has been dormant for several decades jointly headline a national portfolio of commercial accommodation venues being marketed for sale.

The sites are contained in a Hotels & Tourism New Zealand portfolio being marketed by Bayleys Real Estate. The campaign features 11 individual properties across New Zealand - and range in format from sites which have been identified for development into commercial accommodation venues, through to premises currently operating as accommodation entities.

Among the opportunities with the Bayleys’ sector-specific catalogue, are the land and buildings housing a dormant 62-room resort on Pakatoa Island in Auckland’s Hauraki Gulf – priced for sale at $40million.

The 24-hectare island has a golf course, three white sandy beaches, a commercially-graded wharf, swimming pool, squash court and a substantial ensemble of buildings and accommodation units that housed hundreds of guests over the years it was operated as a major tourist resort.

Other hotel and tourism properties showcased within the Hotels & Tourism New Zealand portfolio include:
• The land and building housing the 48-room Emerald Hotel in Central Gisborne. The five-storey hotel sitting on some 4,662 square metres of land has a 4.5-star rating and runs an occupancy rate of 86 percent.
Space within the property is leased to not only the hotel operator, but also to commercial office tenants. Those tenants – excluding the hotel – generate total annual revenue of $1.051million plus GST.
• Up to a dozen two-bedroom apartments in the 4.5-star Swiss-Belhotel full-service hotel in Central Queenstown.
The developer of the six-storey property is currently undertaking building consent application. On completion, the property will consist of 195 rooms. The apartments - which will operate within the George Road hotel inventory - are being marketed for sale either individually at $799,000, or in any combination up to 12 at varying price brackets.
• The land and building housing the newly-completed 64-room Leroy Suites hotel in Rosedale Road in the Auckland suburb of Albany. The four-star property opened earlier this year and has since recorded an occupancy rate of 80 percent.
The accommodation operator is on a 15-year lease - along with three further five-year rights of renewal - which delivers an annual net rental return of $1.1million.
Leroy Suites operates with a four-star quality rating. The property includes
63 car parks.
• The 16-unit Edgewater Motel on Orewa Beach just north of Auckland. The motel is configured into studio and two-bedroom units under a three-star categorization.
• The management rights or joint development of the 240-room Whitianga Waterways Resort Hotel being developed in the Coromandel coastal township.
Operating under a planned 4.5-star quality rating, the hotel is to be built on a 1.93-hectare waterfront site with its own private beach and will also include conference and meeting amenities.
• The leasehold or management rights to a four-star hotel being developed at 101 Mount Eden Road in the city-fringe suburb of Mt Eden.
Sitting adjacent to the Mount Eden rail station currently under construction as part of the City Rail Link, the 75-room hotel will be part of a commercial precinct
and
• The Lakeside Resort & Spa overlooking Lake Karapiro in the Waikato township of Cambridge.
Consisting of 45 chalets, the resort has an indoor swimming pool and health spa amenity – all sitting on some 35.4-hectares of land on three separate title allowing for further development in either a similar format, or for accommodation intensification.

Bayleys’ hotels and tourism group director Paul Dixon said the diversity of properties within the Hotels & Tourism New Zealand portfolio was a reflection of the sector’s broad operating spectrum – both in terms of locations, and service offerings..

“The opportunities within the portfolio range from properties in the genesis phase of gearing up to meet the demands of inbound tourism operators, through to existing long-running operations looking to capitalise on their investments and tap-out at a time when tourism sector activity is buoyant,” Mr Dixon said.

“The portfolio showcases opportunities along the scale of risk-aversity - with properties located across our biggest city, right out into regional New Zealand. And there are also both hands-on or passive investment choices.”

In addition to being marketed nationally, and internationally through Bayleys’ global marketing affiliate Knight Frank, the portfolio has also been taken on a whistle-stop roadshow to Hong Kong, Singapore and China.


ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Banking: Westpac NZ Lowers Merchant Fees For Small Businesses

Westpac NZ is rolling out a new merchant fee pricing structure that will lead to cost savings for more than 10,000 small and medium Kiwi businesses, and could make contactless transactions more widely available for customers. On 1 September, most ... More>>

REINZ: Million Dollar Plus Property Sales Increase 11.7% Nationally

The number of properties sold around the country for one million dollars or more during the first half (H1) of 2020 increased by 11.7% compared to H1 2019, with 5,426 million-dollar plus properties sold (up from 4,858 in H1 2019) according to the Real ... More>>

Waste: Government To Regulate Plastic Packaging, Tyres, E-Waste

The Government is stepping up action to deal with environmentally harmful products – including plastic packaging, tyres and e-waste – before they become waste. As part of the wider plan to reduce the amount of rubbish ending up in landfills, ... More>>

ALSO:

Bankers Association: Banking Becomes First Living Wage Accredited Industry

Banking has become New Zealand’s first fully living wage accredited industry, leading to nearly 1800 employees and contractors moving onto the living wage and gaining greater economic independence for them and their families. As of today, all ... More>>

ALSO:

Economy: Funding For 85% Of NZ Not-For-Profit Entities Impacted By COVID-19

Results of a recent Institute of Directors poll show that 85% of board members on not-for-profit organisations say COVID-19 has moderately or significantly affected their funding. The ‘pulse check’ conducted in the first two weeks of July looked ... More>>

Volcano Detection: Eruption Alert System Would Have Given 16 Hours’ Warning At Whakaari

An alert system that could have given 16 hours’ warning of last year’s eruption at Whakaari/White Island is ready for deployment, University of Auckland scientists say, with warning systems for Ruapehu and Tongariro the next priority. ... More>>


Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>

ALSO:

FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>

ALSO:

Stats NZ: Mixed Performance By Regions Leaves National Emissions Picture Unchanged

Approximately two-thirds of New Zealand’s regions recorded decreases in their total greenhouse gas emissions, while one-third of regions saw increases between 2007 and 2018, Stats NZ said today. “While some regions reduced their emissions, ... More>>

RNZ: Economic Activity And Business Confidence Bouncing Back

Two surveys from ANZ show business confidence and economic activity have rebounded, but uncertainty about the future remains extreme. More>>

ALSO: