Waterfront tavern run on East Coast values
Awaterfront pub located on the North Island’s scenic East Coast, has been placed on the market for sale. The Te Puka Tavern is in the township of Tokomaru Bay — a seaside settlement on State Highway 35,
90km north of Gisborne.
The Te Puka Tavern was built in late 1988, replacing a historic public house that had been operating from the coastal site since 1873.
Holiday activity guide Lonely Planet named the tavern among its Top 10 New Zealand country pubs in
2015 — alongside such illustrious rural hospitality venues as the Cardrona Hotel between Wanaka and Queenstown; the Whangamomona Hotel in Taranaki and the Gladstone Inn in Wairarapa.
Now the freehold land, buildings and entire tavern business are being marketed for sale by tender through Bayleys Gisborne, with tenders closing on January 23. The property features in Bayleys’ latest Total Property portfolio magazine.
Salesperson Greg Robertson said the 600sq m tavern and terraced apartments were situated on some
5123sq m of freehold land immediately overlooking Tokomaru Bay.
Commercial accommodation adjacent to the pub features four twostorey 60sq m studio apartments built in 2011.
The apartments have a nightly rack rate of $ 160 — delivering an average annual occupancy rate of 82 per cent. There are four powered parking spaces for motor homes and caravans at $ 15 a night.
Tokomaru has a resident population of 500, which swells to six times that amount over Christmas and New Year. Thousands more camp in the remote bays and settlements north and south of the community.
“The Te Puka Tavern offers a turnkey opportunity for any new business owner looking for a truly regional lifestyle,” says Robertson.
“As any good country hotel should
There are no gaming machines and the business is endeavouring to become plastic free.
be, Te Puka is at the heart of the community it serves. It’s the weigh- in point for the various pig and deer hunts, as well as the first port of call by local fishing club members, who use the boat ramps immediately across the road.
“It’s a live music venue, a wedding venue, a birthday venue . . . while the conference room hosts farmingrelated annual general meetings and gatherings for a multitude of community groups and associations.
“The main tavern building is in three distinct spaces to cater for a broad spectrum of customers.
“These range from the main bar area, with its A- frame open wooden beam ceiling above multiple learners and a couple of pool tables, the restaurant space, and the covered decks overlooking the sea Behind the tavern is a two-storied three-bedroom owner/ managers residence.”
“The Te Puka Tavern’s operational philosophies mirror those of the wider East Coast population.
“There are no gaming machines within the venue, and the business is endeavouring to become ‘ plastic free’ through the use of re- usable products and services, instigating recycling initiatives, and seeking paper and cardboard alternatives to plastic where possible.”
Trading records for the business show the strategy is paying off — with turnover for the 2016/ 2017 financial year some 37.8 per cent up on the previous 2015/ 2016 trading period.
The tavern’s food operations are serviced by a gas- powered commercial- grade stainless steel kitchen set- up — encompassing a walk- in freezer/ chiller unit with shelving, sixburner hot plate section, salamander grill, and deep fryer, along with dishwashing and rinsing units.
“Having both a food and beverage aspect and accommodation revenue stream ensures the Te Puka Tavern operates as a vertically- integrated and symbiotic business.
“The bar and use of the venue for events and functions automatically feed guest traffic through the apartments, while virtually all guests booking into the apartments as their primary reason for visiting Tokomaru Bay head next door for a bite to eat and a quiet beer or wine with a chance to meet one of the many friendly locals.”
Tokomaru Bay traces its past back to the 1840s when the location was founded as a whaling station.
In the later part of the century, the settlement became a busy hub for sheep and beef exports from the region — sustaining a freezing works and a commercial wharf to service international shipping.
Though the harbour ceased operations in 1963, the old wharf and freezing works remnants near the Tavern are “must see” attractions on the East Coast highway route and a major community funding programme is under way to upgrade and reinstate the wharf.
Robertson says country- pub- style licensed hospitality operations and function venues along the State Highway 35 coastline are “few and far between” and Te Puka Tavern is perfectly positioned for increasing tourist numbers.
“Overseas vendors invested time and effort to bring the complex to its current high standard and have now made the decision to remain offshore and pass the opportunity on to a new owner.”