Turangi Lodge poised for growth
The sale of Parklands Motor Lodge offers owneroperators and passive investors alike the rare opportunity to acquire a freehold motel with vacant possession in the highly desirable area of Turangi, says brokers.
Parklands Motor Lodge is a 31- unit, 4- star Assure motel occupying a prominent 2.78ha road- front site on State Highway 1, at the halfway point between Auckland and Wellington.
“With an average of nearly 6000 vehicle movements a day, an outstanding location, plus ongoing corporate relationships, about 80 per cent of current guests are domestic,” says Danny Blair of Colliers International.
“For new owners of this property, the potential to increase the number of international guests is substantial, thanks to booming inbound tourism which i s in the middle of a strong growth cycle and showing no sign of slowing down.”
Blair says Parklands Motor Lodge i s poised to take advantage of the country’s thriving tourism and adventure sectors; it is ideally situated adjacent to Turangi town centre.
At the southern end of Lake Taupo, Turangi is known as “The Trout Fishing Capital of the World” and is in close proximity to the Whakapapa and Turoa ski areas, New Zealand’s largest, catering for 10,000 skiers- aday. The region is often utilised as a base for excursions into Tongariro National Park, internationally recognised as a natural and cultural world heritage area.
The Tongariro Crossing, within the park, i s the most popular one- day walk in New Zealand.
Offering quality accommodation through its 19 one- bedroom units and 12 studio rooms, the property has supporting amenities including a rest, swimming pool, games room, barbecue facilities and complimentary onsite parking.
“Income generated from the prop- erty holds great potential for growth, through increasing occupancy rates as well as the continued refurbishment of the guest rooms,” says Blair.
This is leading to improved room rates, particularly in the FIT and corporate segments of the market.
Parklands Motor Lodge operates on an owner- occupied basis, with the owner and family living in a gated area, which includes a four- bedroom residence, storage shed, smoke room and tennis court, says Blair.
“It is a perfect property investment for a wide range of purchasers, including those seeking to own and operate an accommodation asset, or looking for a lifestyle change.”