Sea views and Napier lifestyle beckon
Long lease available in city where tourism is booming, writes Catherine Harris.
Amotor lodge with a prime Napier waterfront position is on the market. Edgewater Motor Lodge at 359 Marine Parade was built in the 1980s and has undergone several refurbishments, the most recent being in the last two years which raised it to a four and a half star Qualmark rating.
The 1413 square metre freehold site has an exceptionally wide frontage to the sea, and is just 250 metres from Napier’s commercial and retail hub.
Its council rating valuation is $2.39 million.
The business’ current operators have been running the motel since 2007 and have signed a lease through to 2040.
Bayleys Auckland salesman Paul Dixon, said that with Hawke’s Bay’s in-bound tourism numbers at an all-time peak, the Edgewater’s owners were taking the opportunity to make the most of the buoyant market.
International tourist numbers to Hawke’s Bay hit a record last year, up 16 per cent on the previous year to 278,455. Domestic guest nights simultaneously rose 4.6 per cent to 751,658.
‘‘If Hawke’s Bay’s visitor numbers keep growing along current trajectory levels, the region’s tourism sector will be vastly different from its current picture,’’ Dixon said.
‘‘Most likely, there will be demand for even more room capacity – particularly four and five-star branded accommodation providers operating out of CBD and CBD-fringe locations.’’
Regular maintenance had enabled Edgewater to sustain nightly room rates which were above the market average, Dixon said.
The two-storey, 1265sqm building features 20 units, with private decks and outdoor areas.
Other facilities include a twobedroom owner/manager’s residence, an outdoor plunge pool, barbecue courtyard and off-street parking for 21 cars.
Dixon said there was also a potential development opportunity after the lease runs out in 2040. More rooms might be allowed at higher levels, subject to council consent.
The property – which is zoned fringe commercial – has an earthquake strength rating of 75 per cent of new building standards..
The land and buildings will be auctioned in Auckland on November 30.