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Hotel Development Opportunity In Hokitika For Sale

Hokitika, West Coast
Asking Price:
$1M - $5M (NZD)
Sales Revenue:
Available on request
Cash Flow:
Available on request

Seeking expressions of interest from hotel operators wanting to strategically strengthen their hotel portfolio geographically on the West Coast of New Zealand, for the leasehold interest and the freehold investment.

Proposed Development: Five storey hotel complex offering 90 -100 guest rooms approx., meeting spaces, restaurant, bar, reception, lobby lounge, public areas and off street parking for coaches and guests.

Prime location: Within easy walking distance to the main tourist retail precinct in the heart of Hokitika’s Township. The hotel will overlook the river mouth with views of the Southern Alps, Mt Cook and Ocean Coastline. The land parcel is 3770 m2 more or less and represents a fantastic opportunity to own and operate an international standard hotel and benefit from the tourism boom in New Zealand.

Proposed Hotel spaces:
•Ground floor, hotel lobby, reception & gym.
•Mezzanine, house bar, lounge and guest rooms.
•Level 1, meeting spaces, restaurant & bar, kitchen and guest rooms.
•Levels 2 – 5, guest rooms, a maximum of 27 rooms per typical floor.

Opportunities include:
•Owner/operator lease option, full fit out by operator. Terms of lease to be negotiated.
•Owner/operator freehold investment, fit out by operator.

Key Tourism Statistic National: Source Statistics New Zealand.
•International visitor arrivals (year ending December 2015) 3,132,000 growth 10%pa.
•Commercial accommodation (year ending December 2015) hotel nights 12,832,000 growth 5% pa.
•Economic Contribution (year ending December 2015) Tourism Market Domestic Expenditure ($b) 18.1, growth 6.3%. International ($b)11.8, growth 17.1%
•International Tourism forecast (period 2015 to 2021) Total Visitor Arrivals (millions) 2021 3.8, growth PA 4%.

Key International Markets in 2021:
•Australia Visitors 1.5m Spend 2.2M
•China Visitors 571,000 Spend 2.6M
•USA Visitors 307,000 Spend 1.7M
•UK Visitors 217,000 Spend $981,000
•Germany Visitors 118,000 Spend $675,000
•Japan Visitors 90,000 Spend $191,000

Please register your level of interest with Brad Watts, your hotel specialist broker.

Property information

Real Estate:

Lease

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