Buyers Weigh Future Options For Ponsonby Lodge

Tuesday, 31 May 2022, 5:51 pm
Press Release: Bayleys Realty Group

A popular boutique accommodation lodge has gone up for sale on Auckland’s CBD fringe with options to continue the business or convert the property for other residential uses.

Trading as The Red Monkey Lodge, the freehold property on Richmond Road lies a few hundred metres from the Ponsonby entertainment and retail strip.

With 11 guest rooms and generous common areas, it is an established business which features on major booking sites such as Tripadvisor, Expedia and Hotels.com. Its prospects look set to benefit further from the reopening of New Zealand’s borders.

The property at 49 Richmond Road, Ponsonby, Auckland, is being marketed for sale by Alan Haydock and Damien Bullick of Bayleys Auckland Central. It will be sold by way of a tender closing on Thursday 16th June, unless sold prior.

Haydock said the property for sale comprised a two-storey standalone lodge of approximately 224-square metres on some 377-square metres of freehold land.

The property underpins a proven accommodation business which is being offered as a going concern. Income and occupancy details are available to potential buyers on request.

“This is a rare opportunity to secure a proven accommodation asset in a strategic city-fringe location.”

“The lodge offers substantial common areas including multiple outdoor dining areas, a media room, study room, and a modern shared kitchen.”

“There is scope for a new owner to further increase rental income beyond the existing 11-room operation, by increasing the number of rooms or refurbishing to create a more premium offering,” said Haydock.

Alternatively, a buyer could explore the site’s possibilities for future development and conversion to alternative residential uses, he said.

The property is part of the Residential – Single House zone under the Auckland Unitary Plan, a designation which seeks to maintain the amenity values of established residential neighbourhoods.

Bullick said visitor accommodation was a permitted activity in the zone, along with alternative uses such as supported residential care, boarding houses and care centres.

The zone allows buildings up to a height of eight metres, with some exceptions allowing the roof to slightly exceed this height.

The surrounding area is typified by a combination of traditional character homes, modern residential developments, and character commercial properties.

“Whichever future activity a new owner pursues at the Richmond Road site, this will be supported by its convenient position a short stroll from the shopping and dining options on Ponsonby Road and the Ponsonby Central hospitality hub.”

“This location also affords easy access to supermarkets, along with public transport routes and motorway onramps.”

“Residentially, Ponsonby remains one of Auckland’s most sought-after suburbs, appealing to families and professionals alike with its character homes and easy access to the city centre, amenities and schools,” Bullick said.

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