Tourism Accommodation development of Four Houses plus The Stadium Tavern and The Cellar Door for sale in Alexandra
$4,200,000 Plus GST (if any)
143 Centennial Avenue Alexandra View map
Listing # THL-48760C Listed 16 Dec 2016
About this property
The Stadium Tavern, The Cellar Door and Four adjacent houses are perfectly positioned for future development to create the ultimate Hospitality & Tourism Accommodation complex in Alexandra.
Tourism has been booming, it has now become NZ's number 1 exporting industry and the timing now seems right for an experienced operator or a Corporate to redevelop the four adjacent houses into Tourism Accommodation which would complement the existing Hospitality complex.
The extensive Hospitality complex has both The Stadium Tavern which is a family friendly bistro and tavern with its own functions/events rooms and The Cellar Door which is a large multi-purpose venue for Weddings, Corporate meetings, Public and Private Special Occasions, Functions and Expos. There is a 2.30am Licence for The Stadium Tavern, a 2am Licence for The Cellar Door and there is also an Off Licence allowing for future potential to add a Bottle Shop. The Power supply was originally set up for the adjoining accommodation complex in the future at significant cost which is located in the store room of The Cellar Door.
Located on a prime influential corner site on Centennial Avenue and Gregg Street totaling approx. land area of 5,714m2. It is just over an hours drive away from the tourist meccas of Queenstown & Wanaka and is situated at the top end of town when you are driving from Cromwell/Queenstown/Wanaka direction. Situated right beside Molyneux Park rugby and cricket grounds, the outdoor skating rink, the Molyneux Aquatic Centre, there is a childrens playground at the doorstep and extensive car parking. Town is just a short stroll away and residential subdivisions nearby include Molyneux Estate and The Pines is a new subdivision underway.
The Stadium Tavern
Originally built back in the 1970s as a drive through bottle shop, this building has been extensively added on to and renovated which took about 3 years. Today The Stadium Tavern is a large hospitality complex in its own right with the main bar and dining area having the pokies room with 18 machines, TAB self-service, big screen TVs, ATM, Juke Box, 2 pool tables (owned rather than leased), lounge areas, children's play area, non-smokers courtyard, smokers courtyard and two sets of toilets. There are also two other rooms which were cleverly designed with the doors being able to open up to allow all three spaces to join together. The larger function room is ideal for large groups or for a live band and dancing with its own bar while the smaller function rooms is ideal for smaller groups and regularly hosts the Lions Club and the poker nights.
The back of house includes the commercial kitchen, beer chiller room connecting to both bars, store room for furniture, staff room currently used for storing freezers, staff toilets, office and a back service corridor with double door access off the large function room to be able to take deliveries easily via Gregg Street. Heating is with two diesel fires and heat pumps plus there is a security system in place with several cameras. Onsite management accommodation is located above the main bar which has open plan living, bathroom, main bedroom and an office/small bedroom.
The Cellar Door
This stunning large multi-purpose venue was custom built and designed over 9 years ago and features five integrated function areas including a large courtyard and grass area with lovely natural light. Specialising in Weddings, Corporate meetings, Public and Private Special Occasions, Functions, Expos and held up to 1,500 guests in the past.
Springvale Room - The largest function room which can open into the adjacent Buffet and Conservatory rooms. Up to 120 people seated and maximum of 250 people theatre style plus there are Bar facilities.
Conservatory Room - A sunny room overlooking our outdoor courtyard. Up to 25 people seated at tables and maximum 40 people theatre style.
Earnsleugh Room - Is the 'restaurant style' room which features a schist fireplace, natural timbers, courtyard access and full bar facilities. Can seat up to 100 people at tables and a maximum 200 people theatre style.
Mezzanine Level Room - An informal lounge area located above the Earnscleugh Room for any small intimate function.
Boardroom - An upstairs room overlooking the Old Man mountain range. Can seat up to 18 people at tables and maximum 25 people theatre style.
The Four Houses
The Four houses are in a prime position on Centennial Avenue and Gregg Street and could be redeveloped into a Tourism Accommodation complex pending consents.
141 Centennial Avenue - CV as at 1st September 2016 $260,000 on 1,012m2 land
139A Centennial Avenue & 2 Gregg Street - Two Units with CV's as at 1st September 2016 being Unit A $190,000 and Unit B $190,000 on total land of 911m2
4 Gregg Street - CV as at 1st September 2016 $290,000 on 864m2 land
Broker's Comments: The Rateable Value of the total titles is $3,010,000 plus the successful business including Chattels and Goodwill. This is a real opportunity for a Hotel Operator to create a modern tourism accommodation hotel, motor inn and hospitality operation in the most strategic Central Otago location.
Option 1: The Stadium Tavern, The Cellar Door and Four adjacent houses at $4,200,000 plus SAV plus GST (if any)
Option 2: The Cellar Door and Four adjacent Houses? at $2,650,000 plus SAV plus GST (if any)
Option 3: The Stadium Tavern at $1,550,000 plus SAV plus GST (if any)
We welcome your enquiry, please contact the specialist Hospitality & Tourism Business Broker, Adrian Chisholm, AREINZ on 021 727 888 or email: firstname.lastname@example.org.