Lodge sales brisk ahead of World Cup

Sales include Awaroa Lodge in the Abel Tasman National Park, Queenstown's Matakauri Lodge (pictured) and Aachen House in Remuera.

Fourteen lodges and boutique hotels have changed hands in the last 15 months for more than $75 million.

Dean Humphries, Jones Lang LaSalle Hotels NZ's national director, has tracked the market which he said had been highly active since last January. No big hotels have sold in the last two years and buyers were instead showing a strong appetite for smaller places, he said.

"The level of activity in this sector has taken us by surprise given difficult trading conditions and lower inbound tourist arrivals," Humphries said.

New Zealanders made up the bulk of buyers and some properties were sold in distressed circumstances such as mortgagee or receivership sales, Humphries said.

He named four properties as sold on this basis: Stormcat Lodge on Arthur's Point Rd near Queenstown, Northland's Oceans Resort and Hotel Tutukaka, Queenstown Lodge and the 15ha luxury hotel and spa Hotel du Vin at Mangatawhiri south of Auckland.

Dilworth Trust board bought Hotel du Vin last year after the hotel and associated companies defaulted on a $12 million loan.

The private school said at the time that it planned to turn the property into a rural campus.

Humphries said American-born billionaire and philanthropist Julian Robertson had bought the five-star Matakauri Lodge in Queenstown for a reported $12 million. This added to his existing portfolio of trophy tourism assets in New Zealand, which include Northland's Kauri Cliffs and the Hawkes Bay's Cape Kidnappers, Humphries said.

A number of distinctive accommodation lodges in the Nelson region have been sold. Awaroa Lodge in the Abel Tasman National Park has changed hands.

It is accessible only by water or by walking the Abel Tasman Track.

One of the most luxurious properties to sell is The Lodge at Paratiho Farms, set on 809ha of farmland.

The Lodge, listed for sale at around $14 million, is at 545 Waiwhero Rd in Upper Moutere and was sold to a foreign-based buyer in November.

Last month, the lodge's website was updated and the new British owners said a number of options regarding the future of the place were under review.

The lodge has an outdoor heated infinity pool, tennis court, champion-sized croquet lawn, area for petanque, golf putting green and sauna/steam room.

Bay of Many Coves Resort in Queen Charlotte Sound has sold.

But sources said this deal was understood to be an inter-related party transaction between two parties who had loaned money on the property.

The resort has hillside apartments and offers a Queen Charlotte track deal with accommodation as well as various boating and cruising packages.

One of Auckland's most luxurious boutique places has changed hands. Aachen House Boutique Hotel at 39 Market Rd in Remuera was sold and Humphries said the new owner had removed that property from the luxury accommodation circuit.

The Dilworth Trust is understood to have bought the property.

The four-star Raetihi Lodge at Double Bay on the northwest shore of Kenepuru Sound in the Marlborough Sounds has sold. It has been operating since the 1930s.

Riverside Matakana at 170 Green Rd, 45 minutes north of Auckland, and Lake Rotoroa Lodge in the Nelson area have also sold, Humphries said.

Two luxury Bay of Islands properties changed hands. Matauwhi Bay Manor, formerly a private residence, has been sold. Flagstaff Lodge and Day Spa in Russell has also sold.

Humphries said he knew of a number of other properties under contract and likely to sell in the next six months in the lead-up to the Rugby World Cup.

"This is at a time when tourism numbers are rebounding and investor sentiment is re-emerging. With the market looking like it has bottomed out last year, investors have renewed confidence in the tourism sector which is likely to see a moderate improvement this year followed by significant improvement next year on the back of the Rugby World Cup, which will bring more than 60,000 visitors to the country," Humphries said.

He knew of no large hotels on the market, saying the well-established owners were mostly reluctant to let those properties go, particularly in the lead-up to the cup.

GOING, GONE

* 14 lodges and hotels have sold.
* Most sales conducted in 2009.
* Average sale price about $6 million.
* More sales expected soon.
* Rugby World Cup is helping drive sales.