Real estate broker targets quake victims

Nugget View and Kaka Point Motels on the picturesque Catlins coast has a $2 million price tag. Photo / Supplied

Christchurch earthquake victims flush with insurance payouts are being targeted as potential buyers of motel, bar, campground, shop and hotel business sales around the country.

Adrian Chisholm, principal of Auckland-based Tourism Property Brokers, said baby-boomers in their 50s and 60s were the target in an offering of 31 businesses and properties for sale for a collective $20 million to $30 million.

People in that age bracket often found it difficult to get work, had been made redundant or were receiving insurance settlements on houses or businesses which enabled them to set themselves up for the future, he said.

Many wanted to leave Christchurch and were prepared to get established elsewhere but Chisholm rejected the concept of taking advantage of people in a depressed or distressed state.

"This is market-driven and a direct result of Christchurch folk calling on us. We need to deal very sensitively with this," Chisholm said.

He ran a full-page ad in Christchurch's The Press at the weekend, showing holiday parks, restaurants, motels, bars and pubs from Fiordland to the Bay of Islands.

"This full-page advertisement in the Press is in response to the high demand for Christchurch folk looking to relocate out of the city and find employment by buying a business in other parts of New Zealand, both in the North Island and other areas of the South Island.

"Also we have noticed activity and interest from other well-known business owners who cannot open their existing businesses and are looking to open in new locations around New Zealand with their existing business plan, concept and brand," Chisholm said.

Some buyers are keen to make additions or alterations to the properties to take advantage of the Rugby World Cup, he said.

"Some people are thinking of converting a BYO restaurant to fully licensed and pay for the upgrade and compliance with the one-off windfall they make during the 45-day event to create a better business."

The most expensive property being sold is a $7.2 million business in the Catlins, he said. McLean Falls Holiday Park is a big eco-tourism and freehold farming venture being advertised as "the ultimate package".

But many of the properties and businesses are going for much less than that.

The Waiau Hotel at Tuatapere is $1.2 million and a freehold 12-unit motel at Otorohanga in the South Waikato is $1.2 million. Other offerings include a freehold waterfront motel and camp ground at Paihia for $1.8 million, and Nugget View & Kaka Point Motels for $2 million.

DEALS ON OFFER

* McLean Falls Park, Catlins: $7.2m.

* Crossroads Motel and B&B, Waimate, Sth Canterbury: $595,000.

* Beanz & Machines Coffee Roaster & Cafe, Tirau: $172,000.

* Bracken Hill Cafe & Gift Shop, Mossburn: $500,000.

* Lake Brunner Country Motel and Holiday Park: $1.7m.

* Antler Lodge B&B, Te Anau: $695,000.

Source: Tourism Properties