Absolute Wanaka Luxury Apartments

Property Name: Wanaka Luxury Apartments
Address: 8 Stonebrook Drive, Wanaka
Property Type: Management Rights
Sale Type: Management Rights
Price: $1,590,000 includes managers unit @ $1,095,000
Region: Otago

Qualmark 5 star Luxury Apartments within walking distance of the lakes edge and a short stroll into town, gives this impressive property an ideal location for the holiday maker. Built in 2004 and the early part of 2005, the property is still regarded as being new because of the quality design and fittings that were chosen to decorate.

The Management Rights

The apartments are extremely well fitted out, as you would expect a 5 star property to be, but include such extras as a fireplace in each unit, DVD units and plasma TV's, wireless internet and espresso coffee machines.

Currently there are 33 keys in the management complex, comprising 16 units in total and there are 12 units in the letting pool at present. The operation is currently working on a 90/10 split of revenue and the current managers own their own unit.

The management rights can be purchased outright by themself or with the added security of the Real Estate whlch includes the managers residence.The Real Estate package being offered includes:-

one 3 bedroom apartment

one 1 bedroom apartment

one 1 bedroom loft apartment

two garages

one office

Asking $1,095,000 plus GST if any for the Real Estate and

$495,000 plus GST if any for the Management Rights

These prices are negotiable for the right purchaser!

The Complex

The main feature not to be overlooked here is the outdoor recreation centre, which is surrounded by the apartments and very much the centre of informal gatherings.

Setting the scene is the outdoor heated swimming pool and hot spa pool, for soaking in after a hard day. Next is the ambient outdoor fireplace, beside the BBQ and wood fired pizza oven, all giving the feel of pure relaxation, just imagine the smell of fresh pizza through the air while soaking away the aches of the day from all the local activities.

 Wanaka is an outdoor persons dream, they play hard and they expect the accommodation to be up to the task of providing a relaxing, comfortable stay. Here at Wanaka Luxury Apartments that challenge is met head on and then exceeded, if you are looking for a top of the line business option, then seriously look here.

Contact

For further information about this opportunity please contact Marty Easton on 021 688 819 or email marty@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/

Downloads

Confidentiality Agreement Absolute Wanaka.pdf (144.89 KB)