Pinewood Village business for sale in Central Queenstown
$4,450,000 Plus GST (if any)
48 Hamilton Road Queenstown View map
Listing # THL49024 Listed 23 Dec 2016
About this property
Tourism Properties.com are privilged to be the Sole Agency and are proud to present Pinewood Village for sale as a fixed term 20 year Leasehold Interest business opportunity.
Pinewood Village - Queenstown’s best value accommodation provider is for sale with a fixed term 20 year Leasehold Interest in downtown Queenstown. 467 beds in 131 rooms within 36 buildings and 47 units within Pinewood Village. Set in 3 acres more or less and just a 2 minute drive or a 7 minute walk to downtown Queenstown.
Multi-million dollar turnover business offers a variety of Hotel, Motel, Apartment, Flashpacker and Backpacker accommodation, plus Houses, self-contained and self-catering Units allowing for most accommodation configurations in the dynamic Queenstown market.
Tourism is booming, it’s now New Zealand’s number 1 exporting industry and over 2 million visitors are drawn to Queenstown each year. Queenstown is the Southern Hemisphere’s premier four season lake and alpine resort. Tourism is set to increase even further with more night flights from Australia planned for the winter high season.
The Central “Hub” features indoor areas for meetings, conferences, class rooms, recreational use and socialising plus large outdoor BBQ and recreational areas and a commercial kitchen.
Market Analysis shows use by Cyclists, Conference Groups, Educational Tours, Friends and Family, Organised Tour Groups, School, College and University Groups, Special Interest Groups, Wedding Parties, and Work Place Parties. The property is Cycle friendly, Pet friendly, and features several achievements including the “Expert’s Choice” and “Best of Queenstown” on Trip Expert and is featured on New Zealand’s No #1 Backpackers Guide – “Backpacker Guide NZ”.
Income streams include the rooms revenue, tourism activity sales, food sales, guest laundry and spa hire income. A bike service and bike rental business that operates from the village may also be for sale. Trading above budget and has experienced year on year turnover and profitability increases for 29 years under the current owner’s management and expansion.
A competitive rental structure has been provided for in the new 20 year lease on offer with two yearly rent reviews. There is no automatic Right of First Refusal after the 20 year fixed lease period, however the Lessor will not re-let the Premises (including any extended term) without first offering that lease to the current Lessee of the business at that time.
We welcome your enquiry, please contact the Sole Agent, Adrian Chisholm, AREINZ, your specialised Accommodation Business Broker in Queenstown on mobile: 021 727 888 or email: email@example.com