Listing Ref: 440

Property Name: Te Kaha Beach Resort
Address: Main Road, Te Kaha
Property Type: Resort
Sale Type: Management Rights
Price: Receivership Tender closing 23rd November 2009
Region: Bay of Plenty

Configuration

This substantial complex consists of 25 studio and 2 bedroom apartments, large restaurant/bar and gaming area with 12 pokie machines, retail shop, office and reception, and conference room.  The units are standard or luxury appointed to accommodate the full range of domestic, corporate and international travellers. The complex includes a luxury swimming pool, spa and gymnasium (yet to have equipment installed).  There also exists the opportunity to construct many more apartments on the site and these are provided for by way of Future Development Units.

 

You are invited to seriously consider this unique opportunity to:

► Buy the complex (less 7 units already sold), or

► Buy an apartment or apartments, or

► Buy the accommodation business, or

► Buy the restaurant/bar/gambling business, or

► Buy the shop business, or

► Buy the commercial property investments, or

► Buy the future development units

Tell us what part of this almost brand new resort in one of the most picturesque parts of NZ that you would like to own. Owners Accommodation

An apartment will be available to purchase.  No set apartment has been allocated, therefore it will be the purchaser's choice. 

Features

This property is absolute waterfront with amazing coastal views.  It is due to open in November 2007, and nearly 50% of the apartments have sold already.

One of the regions best kept secrets; Te Kaha is enjoying increased popularity as a holiday destination while continuing to preserve its diverse and unique heritage.  Te Kaha Beach Resort is 1 ½ hours from Whakatane, a drive where you will discover large stretches of safe swimming beaches alternated with rocky bays ideal for swimming, fishing, boating or scuba diving. Small coastal villages are dotted along the road where you will also discover some of NZ’s hidden heritage.

Opportunity exists to establish a considerable hospitality and corporate retreat style business. 

Lease

The new management agreement is for a term of 30 years.

Financials

Being a Receivership sale no financials will be provided to intending purchaser and all buyers should make their own assumptions as to finacial viability at their tender price.

For more details about this opportunity, please contact Gordon McGregor on 021 998810, gordon@resortbrokers.co.nz

 

Potential buyers should review an Australian summary of management rights by clicking on the reference below which is a historic and dated document but sets out the salient issues around management right ownership and operation.  Much of the content is relevant to the New Zealand situation:

http://www.resortbrokers.co.nz/research-and-reports/58/

There has been recent legal precedence with regards the status of management rights in this country and we recommend that all potential buyers of management rights read the decisions by clicking on the links below:

http://www.resortbrokers.co.nz/research-and-reports/131/

http://www.resortbrokers.co.nz/research-and-reports/134/