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Pinewood Lodge

$4,450,000

Business Otago

ID: 1623

Pinewood Lodge

Property Name:
Pinewood Lodge
Address:
48 Hamilton Road, Queenstown
Property Type:
Lodges
Sale Type:
Business
Price:
$4,450,000 
Region:
Otago
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Simon Haslett

Simon Haslett

Broker | Queenstown, Wanaka, Otago

M: +64 21 442 083

simon[at]resortbrokers[dot]co[dot]nz

Reasons to buy

  • Huge profit
  • Huge turnover
  • Proven high occupancy

Simon Haslett

Broker | Queenstown, Wanaka, Otago

Contact Agent

Simon Haslett

Mob: +64 21 442 083

Email: simon[at]resortbrokers[dot]co[dot]nz

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The village of Pinewood Lodge

 

The business

The best value Accommodation for backpackers, mountain bikers and groups who want to experience the world famous Queenstown!

Pinewood Village comprises the largest range of accommodation in Queenstown, with 467 beds throughout the 40+ buildings there is plenty of income to enjoy!

A new 20 year lease is being offered for the first time. Given the multi million dollar turnover and the well thought out structure the next operator will potentially enjoy some huge profits.

The business ranges from long term tenants, backpackers, hostel type accommodation, through to new hotel rooms, catering for couples, groups, and long term bookings with the various configurations.
This enables the incomes streams to be diverse enough to manage the tourism in the coming years. On top of this you can imagine the income from activities, spa and laundry.

Location

Only about 1km - 7 minute walk - 2 minute ride from the Queenstown CBD and Lake Wakatipu. All the attractions and activities that keep things like TripAdvisor busy are within easy walking distance. One of the great things with this property location is the easy access to Skyline mountain biking which is hugely popular.

The property is beautifully spread over 1.3492Ha of perfectly situated picturesque alpine scenery up against the Ben Lomond scenic reserve.

The Opportunity

Tourism is better than ever and Queenstown is experiencing demand like never before. Average daily room rates are increasing and the future looks bright.
Australia is still our number one market and the ever expanding Queenstown airport and the night flights are helping accommodation providers enjoy that market.

This property has potential for meetings, seminars, classes, presentations and any other function with its “Hub” with full kitchen facilities including outdoor BBQ area and a rare hangi pit!  Income from food and beverage has never been fully explored or realised.

The guests are varied and range from singles, backpackers, couples and through to groups where whole houses and units with their own lounge, kitchen and bathroom facilities. There is nothing quite like this in Queenstown and with groups and people who simply cannot find alternative accommodation there is no surprise Pinewood has people coming back year after year.

Expanding target markets could be the bike groups, ski and other sports groups and language schools. Being cycle and pet friendly as well as excellent features and setting has earned many Bests and No. 1  rankings for backpackers etc…

An outstanding property like none other, being offered for the first time in 35 years. A stunning property in the most desirable location in NZ with an exceptional bottom line.

Call today to find out more.

Approximate Yield:

28%

Disclaimer: We do not accept responsibility for mis-statement or error contained on this site. Interested persons should rely on their own enquiry. All prices are plus GST if any unless otherwise stated. If the transaction is recognised as a going concern then the sale should be zero rated.

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Simon Haslett

Simon Haslett

Broker | Queenstown, Wanaka, Otago

M: +64 21 442 083

simon[at]resortbrokers[dot]co[dot]nz

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