Good News Story For Christchurch’s Hospitality Scene
Long established Christchurch hospitality provider, The Oxford Group, has purchased a major piece of real estate to redevelop the hospitality scene in Halswell.
The purchase includes the freehold and business of Super Liquor Halswell, Craythorne’s Public House and Craythorne’s Hotel, an investment only possible due to the success of the Group’s longstanding history operating in the city, Oxford Group General Manager Janelle Pritchard says. The Oxford Group is best known for owning and operating venues across the city including Fat Eddies, Original Sin, Kong, The Bog and The Bealey Quarter.
“We have recognised the massive growth in this part of Christchurch as the largest and fastest-growing suburb, bringing together a diverse demographic within a short distance of the site. We are incredibly excited with this redevelopment opportunity and are confident we will create a unique and quality hospitality hub that will be unparalleled in the area,” Mrs Pritchard said.
“Our plan is to operate each business as usual while we get to know the community and do local research. It’s important for us to get the redevelopment right and give the community what they want. We’d like to provide an extension of their living room that will eventually become a new institution – a title you can only earn. It’s likely there’ll be some changes from early next year.”
The Oxford Group is the largest hospitality property investment company in the South Island and currently employs 180 staff across what is now six venues. “Diversifying our portfolio and geographic locations strengthens our group and reduces our risk especially with overexposure in the inner city and in challenging times. With assets of more than $50 million and annualised EBIT of around $5 million per annum we are a very well established and successful business. Owning our own properties also contributes to our strong business model.“
“While many hospitality providers have a firecracker first 12 months, the real test is how they’re going three years down the track. We’re proud that our venues have all stood the test of time, and we are set to continue this success in the city for many years to come.”