Marvel Bar eyes sales surge
Paul Charman
Brokers say one of the Wynyard Quarter’s No 1 hospitality venues is for sale, as a business within leased premises, as the famed hospitality strip braces for unprecedented activity. ABC Business sales broker Brock Sibbick says the Marvel Bar & Grill, at 1 Jellicoe St, North Wharf, has gone on the market ahead of Rugby and Cricket World Cup events, plus the long-awaited America’s Cup series.
“As one of Auckland waterfront’s most popular hospitality venues, Marvel expects to see a huge influx of additional tourists and visitors from these events,” says Sibbick.
The hospitality site — that opens until 11pm daily — is located directly opposite the soon-to-be completed Park Hyatt.
It is for sale by private treaty, with offers due to close on March 31, unless sold earlier.
“In my view, all this represents an unprecedented opportunity for an experienced industry operator,” says Sibbick.
“There’s a wealth of foot traffic passing by this multi-faceted dining establishment each day, and an openplan kitchen creates a wonderful atmosphere.”
Marvel has three dedicated and experienced managers, meaning owners Alisdair Gribben of Vivace fame and his partner Wendy Sutherland, have minimal input in the daily operations.
“It has consistently strong weekly sales and combined with its large footprint, the potential for further sales growth will be easily realised by an experienced operator.”
Sibbick says the America’s Cup pre-racing has been cancelled in Europe, meaning that racing will now begin in Auckland later this year.
The Cup calendar effectively begins with the launch of Boat 1 on March 31 and continues right through to the final races in March 2021.
“We believe this will generate a huge ongoing buzz around the Wynyard Quarter for the duration, with highlights including the challenger series beginning in June; the launch of Boat 2 next February and three World Series preliminary events and a Christmas race late next year.
“But that’s all just the curtainraiser for the Prada Challenger Series and final match-racing, to be held in 2021.”
Meanwhile, he points out that the Cricket World Cup starts on May 30, running though to July 14.
This will provide an opportunity to host events with the alternative cricket commentaries.
Groups of fans from the various countries represent a lucrative market. For example, Eden park recently sold out for the Indian and Sri Lankan T20 Internationals.
The Rugby World Cup is to get under way on September 20 and runs through to November 2.
Sibbick says kick-off times for All Blacks games will be 6.45pm Japanese time — or 10.45pm (NZT).
“So games are to be aired at times that are advantageous for hospitality. Punters will be in for dinner, plus long into the night, taking advantage of late liquor licences.”