Country hotel and bottle shop premises for sale provide a top-shelf investment opportunity
The land and buildings sustaining a multiple-revenue stream provincial hospitality operation at the heart of a rural community have been placed on the market for sale.
The Hotel Mangatera and Bottle-O Mangatera liquor outlet operating in the Manawatu township of Dannevirke consist of two separate buildings sitting on some 4,433 square metres of freehold land.
The original colonial-style Hotel Mangatera was constructed on the site on the corner of High Street and Ruahine Street in the late 1800’s. The large two-storey wooden hotel stood on the site until the 1950’s when the building was completely destroyed by fire.
Within years, a new single-storey purpose-built hotel was constructed - which is essentially the core of the Hotel Mangatera premises there today.
In the 1980s an adjacent 200-square metre warehouse style building was constructed to accommodate a retail bottle store. The premises was refurbished some five years ago and now features a drive-through portico.
Half of the building is a walk-in chiller unit, with the premises now containing a branch of highly recognised nationally franchised liquor retailer Bottle-O. At the rear of the Bottle-O retail premises is a separate high-stud storage shed with sliding door access.
As a licensed food and beverage business, the Hotel Mangatera’s infrastructure encompasses all aspects of the hospitality market, including:
- A diverse range of sports, lounge, and function room bars each targeting different clientele and patronage
- Fifteen gaming machines, along with a TAB betting terminal
- Conference, function, and event facilities capable of hosting up to 70 guests in a seated format which is separate from the main bar areas.
- A 60-seat restaurant serviced by a full commercial kitchen featuring gas hob grillers and ovens, a combi’ oven, deep fryers, extractor fans, walk-in chiller unit, a pizza oven, and a stainless-steel high-volume plating and servery bench
- A north-facing fenced outdoor garden bar
- A self-contained comfortable three-bedroom owner/managers residence
- Nine accommodation bedrooms – including two with ensuites.
Now the Hotel Mangatera and Bottle-O Mangatera land and buildings at 389 and 391 High Street in Dannevirke – also known as State Highway 2 - are being marketed for sale by deadline private treaty through Bayleys Napier, with offers closing on September 10.
Bayleys Napier salesperson Rodger Howie said the hotel and bottle shop buildings encompassed a total floor area of approximately 1,033 square metres with prominent street frontage, and had a new build standards rating of 70 percent.
Mr Howie said the single-storey Dannevirke property and its tenancies 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.
Combined, the two tenancies at 389 and 391 High Street generate net annual income of $156,521 – encompassing:
- The Hotel Mangatera on a current lease running through to 2024 with four further five-year rights of renewal, generating annual rental of $120,000 plus GST
- Bottle-O Mangatera on a current five-year lease running through to 2024 with four further five-year rights of renewal, generating annual rental of $36,5217 plus GST
“The Hotel Mangatera is the epitome of a rustic Kiwi country hotel – serving Dannevirke ‘regulars’ who visit the hotel on a weekly basis for a quiet pint with their mates or to pick up a supply of beers and wines to take home. It is the heart of the surrounding community,” said Howie.
“The function room facilities are also well patronised for social events such as birthdays or wedding anniversaries, and by corporate clients who book the hotel’s conferencing facilities as a hub central to Hawke’s Bay, the Wairarapa, and Manawatu regions.
“The venue’s accommodation options start from $110 a night, and are regularly booked by truckies and passing travellers who take advantage of the comfortable facilities running in parallel with on-site food and beverage options.
“Hotel Mangatera’s accommodation wing is incorporated within the hotel and contains a mixed configuration of twin and double bedrooms – all with their own tea and coffee making facilities, hand basins, and televisions. Seven rooms share modern toilet and shower facilities.”
The Hotel Mangatera with its concrete driveway and parking areas - as well as landscaped grounds - has twice been a finalist in the Hospitality Association of New Zealand Awards for Excellence where it was nominated in the Best Hotel and Best Off License categories.