One of Queenstown's premier 5 star Qualmark rated accommodation properties has managment right for sale by Adrian Chisolm.
This is the first time these management rights have been offered for sale since the complex was built and the management rights business were created 10 years ago. The complex offers luxury accommodation, breath taking views of Lake Wakatipu and The Remarkables mountains and it is only a 10 minute walk into town.
There are a total of 92 keys included with the management rights across the 60 x Two Bedroom Apartments being either in the Short Term visitor accommodation pool or the Long Term pool. There are 2 additional Two Bedroom Apartments, 1 for Reception & Offices and the other for Managers accommodation which are also available with the management rights package. 2 more Two Bedroom Apartments (1 key) are located in an adjacent complex.
In the Pounamu complex there are 68 x Two Bedroom Apartments and each Two Bedroom Apartment has 2 onsite basement carparks. Of the 68 Two Bedroom Apartments there are 8 which are owner occupied.
Short Term visitor accommodation pool comprises:
A total of 66 keys made up of 32 x Studio Rooms and 32 x One Bedroom Apartments (or 32 x Two Bedroom Apartments being dual key) and 2 x Two Bedroom Apartments (1 key) which are located in the adjacent complex.
Long Term pool comprises:
A total of 26 keys made up of 26 x Two Bedroom Apartments which are rented as one tenancy or 1 key. There could be potential growth opportunities by converting Long Term apartments into the Short Term visitor accommodation pool.
Two Apartments:
Also offered for sale are 2 x Two Bedroom Apartments as part of the management rights package which accommodates the office/reception/management offices and the other apartment is a Two Bedroom Manager's Accommodation. The price of these two apartments are in addition to the cost of the management rights business.
Pounamu Apartments also features an outside spa facility overlooking the lake and mountains along with bike hire and free wifi and free phone calls for all Guests staying at the property.
The current owners have developed this management rights business from the beginning, established good unit owner relationships and installed management and marketing systems to ensure that this business is built on a profitable business model.
Price: Management Rights: $3,000,000 plus GST (if any) and 2 Apartments by Negotiation.