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Taupo Ika Nui Timeshare Resort

Tender closing 4pm 12th May 2021

Freehold Going Concern Central Plateau

ID: 1829

Taupo Ika Nui Resort, Lake Taupo - The entire complex for sale

Property Name:
Taupo Ika Nui Timeshare Resort
Address:
64-66 Lake Terrace, Taupo
Property Type:
Motels
Sale Type:
Freehold Going Concern
Price:
Tender closing 4pm 12th May 2021 
Region:
Central Plateau
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Gordon McGregor

Gordon McGregor

Director, | Coromandel, BOP, Auckland CBD

M: +64 21 99 88 10

gordon[dot]mcgregor[at]bayleys[dot]co[dot]nz

Reasons to buy

  • Directly opposite the Lake
  • 2 street frontages - prominent corner site
  • Potential to expand into a resort/motel
  • Potential to sell off units individually and have management rights
  • Potential to sell off a lease and retain the freehold investment
  • Potential to run as a freehold going concern
  • Potential to let apartments long term
  • Potential for community housing or clinic

(all subject to necessary Council Consents)

Gordon McGregor

Director, | Coromandel, BOP, Auckland CBD

Contact Agent

Gordon McGregor

Mob: +64 21 99 88 10

Email: gordon[dot]mcgregor[at]bayleys[dot]co[dot]nz

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Taupo Ika Nui Resort was developed in the late 1980's and was sold off to individual owners who purchased either fixed or floating weeks - each with its own unit title - thus numerous titles were issued for the complex.  

Please note in all photos the boundary lines are approximate only.

Taupo Ika Nui Resort has a prestigious address being 64 Lake Terrace but actually fronts two streets, namely Titiraupenga Street and Lake Terrace itself.

Lake Terrace frontage has been the most prestigious address in Lake Taupo since the early days of the settlement but over time the traffic levels increased to the point where noise disturbance was a significant deterrent.  Since the bypass was put in the amount of traffic along Lake Terrace has dropped significantly, particularly the heavy vehicles that used to traverse this carriageway late at night and in the early hours of the morning.   Now owners of properties fronting Lake Terrace can once again enjoy the superb benefits of the lakefront (opposite side of the road) location.

Taupo Ika Nui Resort location is considered advantageous given its close proximity to the retail, bars and restaurants in the town centre.  It is far enough away to not suffer from continual disturbance around the entrances to bars and restaurants but such an easy walk.   Guests can also walk to the retail outlets including the local supermarkets. 

Being located along Lake Terrace many units get lake views down to the mountains in National Park. The guests have the convenience of just crossing the road, traversing the bank and swimming in the wonderful fresh water of Lake Taupo. 

Land & Zoning: 

The land is pretty level in contour.  It is fully serviced with water, sewage, electricity and stormwater. The area of land will be confirmed once the new title is issued but we expect it to be around 2,978 square metres in total.

The land is zoned High Density Residential. 

The Complex:

At the left side lakefront end of the property is the large reception/owners lounge, offices, storage and the owners/managers apartment above. The resort Units are on two levels basically taking a U shaped with central courtyard allowing view shafts for many of the upper units across the lake.  There are 28 units in total plus the common areas which also include the spa/pool complex various storage and office areas plus the 2.5/3 bedroom managers apartment.

There are 6 two bedroom units and 22 one bedroom units - all self contained.

Floor Areas and Rating Valuations As Per Property Guru (do not include common areas)

Unit Area                                                                                 Rating Valuation.           Area (SqM)

1/64 LAKE TERRACE

123000

47

2/64 LAKE TERRACE

140000

40

3/64 LAKE TERRACE

140000

40

4/64 LAKE TERRACE

140000

40

5/64 LAKE TERRACE

140000

40

6/64 LAKE TERRACE

192000

53

7/64 LAKE TERRACE

192000

53

8/64 LAKE TERRACE

148000

41

9/64 LAKE TERRACE

148000

41

10/64 LAKE TERRACE

150000

42

11/64 LAKE TERRACE

150000

42

12/64 LAKE TERRACE

150000

41

13/64 LAKE TERRACE

150000

41

14/64 LAKE TERRACE

169000

50

15/64 LAKE TERRACE

150000

40

16/64 LAKE TERRACE

150000

40

17/64 LAKE TERRACE

150000

40

18/64 LAKE TERRACE

150000

40

19/64 LAKE TERRACE

202000

64

20/64 LAKE TERRACE

193000

53

21/64 LAKE TERRACE

193000

53

22/64 LAKE TERRACE

157000

41

23/64 LAKE TERRACE

157000

41

24/64 LAKE TERRACE

159000

42

25/64 LAKE TERRACE

159000

42

26/64 LAKE TERRACE

157000

41

27/64 LAKE TERRACE

157000

41

28/64 LAKE TERRACE

179000

50

 TOTAL   1239 sqm excluding the extensive common areas

Quality:

Taupo Ika Nui Resort has always been a very popular and has received numerous industry awards.  The fact that the timeshare structure has not worked in recent times for the owners is not a reflection on the property but more on the legal and financial structures in place.  The owners have voted to sell the property as a single entity and have appointed a solicitor to apply to the High Court to have the Unit Plan cancelled.  

As with everything, buildings age but the timeshare structure has meant that maintenance has been very good.  A full unit refurbishment program was undertaken in 2009 – 2013, managers apartment and office area 2016 and another 10 units refurbished in 2017.

It has run as a timeshare for some 38 years and the original structure was previously a motel for 9 years.  So today the units are extremely well presented and fit for purpose.

Resort Facilities:

  • Guest laundry
  • Indoor heated swimming pool
  • 2 spa pools
  • BBQ area
  • 29 marked out carparks
  • paths and driveways
  • well looked after mature gardens

 

For Sale By Tender:

For Sale by Tender.  Tender closes 4pm Wednesday 12th May 2021.  At this stage settlement will be as the new title become available.

 

Inspections:

Please do not inspect the property without prior arrangements as the managers will be worried about security and upsetting guests, many of whom are not owners and therefore unaware of the impending sale.

We will be conducting formal inspections through March, April and early May, most likely on Fridays between 10am and 3pm.

 

CLICK HERE to watch a video of the property

 

Register Your Interest:

Please complete the Confidentiality Agreement in yellow on the right-hand side of this listing which will register your interest and we will send you the marketing material.

This is an exciting listing and we look forward to assisting you further with your studies.

Please feel free to call Gordon McGregor on 021 998810  or Gary Harwood 027 487 2304 with any questions you may have in the interim.

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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Gordon McGregor

Gordon McGregor

Director, | Coromandel, BOP, Auckland CBD

M: +64 21 99 88 10

gordon[dot]mcgregor[at]bayleys[dot]co[dot]nz

Confidentiality

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