Essex Arms Hotel Waikato New Zealand For Sale

Business description

Totally refurbished Waikato art deco hotel – Leasehold interest for sale!

Asking price: $400,000 Or Near Offer with vendor finance available.

Tourism, Hospitality, or Hotel experience? Are you a people person looking for a new opportunity? Are you getting little return for your efforts? Looking for a business with massive upside?

This is an ideal opportunity for a an experienced operator, couple, or family to get in on the ground floor of this redeveloped business and take advantage of very significant recent investment by the current owners.

The Essex Arms is the main hospitality venue in Huntly. It is a quality hotel with licensed restaurant and cafe, 2 bars, garden bar, extensive accommodation and gaming facilities.

The premises have just had an extensive face lift and rebuild to enhance the historic Art Deco ambiance. The refurbished premises provide a perfect solution for entertainment, conferencing and accommodation. There is catering for functions for up to 120 people in the restaurant, plus a relaxing cafe, two bars, and an inviting garden bar The gaming lounge has 18 poker machines and future developments may include TAB potential.

Accommodation consists of 20 new motel-type units sleeping from 2 to 8, with 2 units having facilities for the disabled. The variety of room configurations provides maximum flexibility. All units have Sky TV, internet connections, telephone and tea making facilities with bar fridge and new bathrooms with hair dryers.

An enclosed courtyard provides a relaxation area safe for children’s play. Secure guest car parking is adjacent to the accommodation.

There are substantial profits to be made at this iconic Waikato Hotel. A major new draw card is about to come on stream at the Hampton Downs Raceway. This will see up to 80,000 people attending races, and racing teams requiring local accommodation for days at a time. With Huntly’s existing reputation as a speedway and stockcar venue, the Essex Arms could easily become the first choice of motorsport enthusiasts.

2 people could run the Hotel year round with part time staff assisting during functions and busy periods.

There is massive opportunity to add value here. All components of the business have substantial growth opportunities.
The business is offered as a Leasehold Interest with a potential 20-year lease offered for the chattel value only. Vendor finance may be available to approved purchasers. Expressions of Interest are therefore invited from parties with $200k available to invest. Equity swaps to a similar value in property may be considered.

The confidential income and gaming returns will be discussed with qualified potential lessees.

The business is offered as a going concern and price is plus GST (if any).

The freehold is also available for NZ$3,000,000

Huntly is centrally located on State Highway 1 between New Zealand’s largest city Auckland (93km) and Hamilton (35km). Both cities offer international airports. The town of 7,000 straddles the mighty Waikato River and is surrounded by rich farmland and beautiful lakes (many of them former open-pit mines), ideal for fishing, yachting and waterskiing. Huntly is the site of a massive coal-fired power station and is Waikato's biggest source of coal, producing over 10,000 tonnes per day.

Property information

Real Estate:

Lease

Lease terms:

New lease to be negotiated

Other information

Owner financing:

Owner financing is available. Please contact the seller for more information.