Monday , October 15 2018

Going going gone: which premier properties have hit the market?

Land, plans and consents for a major new tourism and hospitality complex in Northland have been placed up for sale.

The 4.21 hectare site close to Kerikeri on State Highway 10 currently houses commercial, industrial and residential buildings occupied by seven different short-lease tenants and returns $95,553 per year.

However, Environment Court-approved plans outline a far more ambitious future for the property.

They allow for the creation a cultural trade centre, conference facility, restaurant, hotel, health spa/sports complex and service station.

Architects’ plans are included in the ‘Orange Centre’ sale package which show several low-rise structures and a 30-unit, two-storey accommodation block surrounded by landscaped gardens.

The package is being marketed for sale by tender through Bayleys Kerikeri, with the deadline 2pm on October 25.

Bayleys Kerikeri sale manager Anthony Van Gessel said: “The owners realise that bringing their vision to fruition requires more resources and time than they possess.

“The opportunity now is for an entrepreneur developer with the appropriate skills to pick up The Orange Centre baton and see the project through to completion.”

The seven-day-a-week consent allows for a 120-delegate conference centre and 152-seat restaurant alongside the cultural centre, plus a service station and café with vehicular access directly off the main road between Kerikeri and the Bay of Plenty Airport.

Meanwhile, a portfolio of four Auckland hotel, lodge and commercial properties is also for sale –  three of which are occupied by award-winning tourism and accommodation provider Haka Tourism Group on ten-year leases.

The portfolio comprises a new Haka Hotel opened early this year at 9 Manukau Rd, Newmarket; the Haka Backpackers’ Lodge at 373 Karangahape Road; an adjoining multi-tenanted three-level commercial building at 375 Karangahape Road; and another recently completed Haka Hotel at the rear of these two buildings at 2 Day Street

The portfolio is generating total annual rent of $1,813,000 with future agreed stepped rent increases to about $2.23 million.

Bayleys Real Estate has been appointed to sell the properties by international tender, closing at 4pm on November 1 unless all or any of the properties are sold earlier. Tenders can be lodged for the entire portfolio or for one or more individual properties

One of the largest hotels in Palmerston North, the Hotel Coachman, has sold to the Distinction Hotel Group. The 72-room, 4.5-star Fitzherbert Avenue hotel is a popular events venue and a fixture of the local wedding scene.

And the Skotel Alpine Resort in Tongariro National Park has also sold to a local investor. The timber-clad resort on the edge of Whakapapa Village is in the heart of the UNESCO World Heritage Area.

Dean Humphries, National Director of Hotels for Colliers International, brokered both deals and says the recent high demand for hotels in New Zealand’s key centres is now filtering through to the regions.

“Regions such as Rotorua, Taupo, Hawke’s Bay, Tongariro National Park and Tasman are benefiting from strong levels of domestic tourism demand,” he said.

“At the same time, cities such as Hamilton, Palmerston North, Dunedin and New Plymouth are all enjoying robust corporate and business demand.

“On top of this, Tourism New Zealand is also now focussed on marketing the regions as part of its wider global tourism marketing for the country.

“What this means is that the tourism boom is now starting to reach the regions, which is great news.”

About Kate Jackson

Kate Jackson
Kate Jackson is the editor of Accomnews and Accom Management Guide. You can reach her at any time with questions or submissions: editorial@accomnews.co.nz

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