Two Hospitality Deals in New Zealand .....You Can Not Afford

There are two hospitality deals you simply can not afford
to miss. One of them is a mortgagee sale. The other one
although not a mortgagee sale is even better......

A. 17 Wellington St, Russel, Bay of Islands

This Boutique Lodge is based on an original family
homestead, built at the beginning of the twentieth century.
The Lodge has been carefully renovated and restored with
significant new buildings added, so that, today, it is one
of The Bay of Islands most exclusive boutique lodges with
Qualmark 5 star rating. The attention to detail and quality
of this property must be seen to be believed. The lodge is
located just one minute's walk to Russell's cafes,
restaurants and water front.

Key Features:

• Luxury accommodation for discerning travelers

• Breathtakingly beautiful region

• Sale includes all chattels and Spa

• Private 2 bedroom owners accommodation

• Beautiful gardens and plenty of room to expand

You can view the property by visiting:

http://www.flagstafflodge.co.nz/rooms.html

The property has a registered valuation of $2.45m

It is being sold through a Mortgagee Tender closing 3PM
Wednesday 19th November 2008.

B. Property : Quest Matakana

Property description: Less than one hour north of Auckland,
the Property offers 17 luxury villas set amongst 37 acres of
grape vines, olive groves and native bush. The Glen Edin
river runs past the southern boundary of the Property
providing access to Sandspit and the beautiful islands of
the Hauraki Gulf from the property’s private jetty and
boat ramp. Additional features include an all weather
tennis court, heated swimming pool, manager’s residence
and conference facilities.

Of the 17 villas, 12 are available for sale, together with
the management
rights for the entire business, providing the successful
purchaser control of the Owners Association through which
the underlying freehold and facilities are owned.

Date opened: Mid 2007
Number of rooms: 17 luxury villas which can each be
configured with one, two or three bedrooms to suit
guests’ requirements.
Note that only 12 villas plus full management rights are
being offered
for sale
Star rating 5 (Qualmark rated)*
Conference facilities: Meeting rooms capable of catering
for up to 16 guests.
Other features: • Vineyard & olive groves
• All weather tennis court
• Heated swimming pool
• Jetty & private boat ramp
• Manager’s residence
Site area: 14.981 hectares.

Tenure: Freehold land title subject to an individual lease
structure for each of the villas. This arrangement has been
adopted in order to give the same economic benefits as a
perpetual lease. The lease arrangement has been structured
to avoid subdivision which would result in the limiting of
access to the waterfront and common facilities.

Each villa owner owns a share of the “Owner’s
Association” which owns the
underlying land, managers residence, conferencing room,
common facilities
and future development rights of the property and is the
Lessor of each of
the villas.

Management agreement: The entire Property is subject to a
10 year management agreement to Riverside Estate at
Matakana Management Limited with the option to renew for a
further 10 years. This management company currently
operates under a standard Quest franchise agreement and
trades as Quest Matakana.

Five Villas were sold last year $750,000 for one and four
at $650,000 each. Therefore you control the body corp,
management rights the managers residence in effect 70% of
the property.The other ownwrs own 1/17th share. There is a
vineyard olivegrove , pool, tennis court and boat ramp.
Replacement cost over 8 mil.

Please view the property by visiting:
http://www.questmatakana.co.nz/index.site.home.property.21.html

Producing 600k pa at 35% occupancy in its first year and
tough trading conditions. It may be possible to increase
occupancy to around 55% over the next two years with better
marketing even in the present marketing conditions.

We believe that $ 3,500,000 clean offer will secure the
property. Going by the past results the sale price of the
remaining 12 Villas is likely to be close to $8.5m plus
interest in business.

The property is being sold through Private Treaty.

Both the properties represent quality......these
opportunities have become available to the difficult market
conditions.

Please let me know of your interest. look forward to
hearing from you.


Best regards,
Mr Colin Kumar
c.kumar@barfoot.co.nz
WE LOVE SELLING AUCKLAND

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