Popular 1920s hotel in Dunedin
Aunique historical 15-bedroom boutique hotel in Dunedin is up for sale, following more than 13 years of commercial operation. LINK business broker Jono Jarvis, who is selling the land, buildings and hotel business, says there isn’t another South Island hospitality venue quite like Brothers Boutique Hotel.
“This operation has been servicing primarily European holidaymakers, plus an interesting mix of locals on holiday, visiting students and corporates looking for something different,” he says.
“The property, originally built in the 1920s, was converted from a residence to hotel in 2005 when it was purchased by its current owners, Rod and Shelley McMeeken. The building has retained many original features following the refurbishment and the is now structurally sound and earthquake strengthened.”
Jarvis says the accommodation provides a genuine heritage experience, consisting of seven-tiers of room options — all with ensuites and central heating, and many with access to the balcony and stunning views of the city and harbour.
The European-style freehold property, spans 1856sq m of land in three separate freehold titles, at 295 Rattray St.
The offering includes a standalone hotel, adjacent 15-space carpark and recently renovated two-bedroom townhouse. Currently used as the owner’s residence, this accommodation could extend earnings by being a rental.
Jarvis says the opportunity to purchase the business follows a decision by present owners to spend more time at their home in Central Otago, and enjoy travelling.
“The current owners have established a sound business over the years and built great relationships with inbound tour operators, booking agents, corporates and repeat local customers.
“I see huge potential for growth as the focus to date has been on operating at a level that suits the owners.
“Immense scope exists to cater to a wider global market and extend its offering to include evening dining and events such as weddings,” he points out.
The business is located centrally, only a six-minute walk to Dunedin’s CBD and has an established reputation with consistent occupancy rates and forward bookings.
Jarvis says there are plenty of local attractions that drive travellers to the area, with further projects already underway to spur further growth.
“Dunedin is well-known for the arts, music and its relaxed lifestyle, and boasts the best stadium in the country, which attracts top rugby games and sought-after concerts.
“With bold plans for a harbour redevelopment and new hospital build expected to be the country’s largest construction build in recent times, there are significant long-term benefits to the city and the commercial accommodation sector in the surrounding areas.
“This property showcases plenty of potential for further development.”
Jarvis says the sale of Brothers Boutique Hotel, including all three titles, is by negotiation.