One of Taupō’s original motels, exquisitely refurbished with a modern fit-out, shapes as a desirable purchasing opportunity for a new owner to acquire a strategically located property in one of New Zealand’s most popular holiday destinations.
The Dunrovin Motel, at 140 Te Heuheu Street, contains nine boutique, modern units and proudly enjoys an 8.9 rating on Booking.com, making it one of the town’s highest reviewed accommodation options.
The current vendors spent the Covid-19 years focused on a meticulous refurbishment programme, so all the hard work has been done.
The new owner can enjoy the benefits of their hard work in this tranquil haven featuring stunning gardens throughout the property.
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Each single-storey unit has new gas hot water as well as a new kitchen and bathroom. There are smart TVs in all units and free Wi-Fi for guests who have shown a penchant for returning to Dunrovin, with repeat customers a notable feature. The convenient parking at the front of each unit is always well received.
The property, which offers outstanding views of the surrounding mountains and Lake Taupō, also includes a six-bedroom owner’s home sitting prominently on the 2,163sq m freehold site.
With the shore of Lake Taupō a brief walk away there’s a host of water sport activities awaiting guests, while the nearby CBD contains a complementary mix of restaurant options to suit all tastes.
Further opportunities exist to fully develop the entire property. The garden could be repurposed to house further accommodation units, and there is potential to reconfigure the six-bedroom home to short-term accommodation thereby significantly increasing revenue.
Hugh Milloy, Investment Sales Broker at Colliers Taupō, has been exclusively appointed to market the property for sale with the deadline for offers closing at 4pm on Thursday 21 September, unless sold prior.
Milloy says this is an outstanding opportunity to acquire a successful business with a major landholding.
“This is an exciting chance for discerning buyers to secure a stake in the Taupō property market with an asset that offers significant growth potential,” Milloy says.
“With a steady flow of bookings, the new owners will have a regular stream of income, while they weigh future plans for the property that could include the addition of further units, subject to the appropriate consents, to optimise the use of the site.”
In a post-pandemic environment, Taupō has quickly returned as a thriving events destination.
Sitting approximately halfway between Auckland and Wellington, it remains a sought-after holiday spot for many Kiwis, as well as international visitors who covet the area’s beautiful natural landscape, outdoor pursuits, and world-renowned fly fishing experiences.
Research from Infometrics points to a 16 per cent increase in tourism expenditure across the year to December 2022 on the previous year, indicating a strong rise in traveller spending.
That figure will only continue to grow as Taupō was recently confirmed as the future host for the Supercars, which will race at Taupo International Motorsport Park for three years from 2024, bringing up to 100,000 people to the town.
Taupō also offers an outstanding selection of golf courses, including Kinloch Golf Club and Wairakei Golf + Sanctuary, which are regularly rated among the top courses in New Zealand.
The area hosts conferences year-round, providing a boost to accommodation providers, while the Lake Taupō Cycle Challenge, IRONMAN 70.3 New Zealand (including the World Championship in 2024), and Summer Concert Tour are fixtures in the national sporting and events calendars.
“This property would suit an astute owner/operator who may choose to further develop the property in this extremely popular tourist town, with a view to selling the leasehold interest and retaining the freehold for the long term,” Milloy says.
- Article supplied by Colliers
