The bar inside the Mangakino Hotel which is for sale for just under $1million. Photo/Century 21
The bar inside the Mangakino Hotel which is for sale for just under $1million. Photo/Century 21
A Waikato pub is on the market for less than a $1 million, which is also less than the average Auckland house price.
The Mangakino Hotel sits on a large chunk of land - 4046sq m - and has recently been renovated.
Long-time Mangakino resident and owner of Century 21Stevens Realty, Christine Stevens, says given the rocketing house prices in the city of sails, the hotel sale offers big bang for buck.
"This is a huge opportunity for someone looking for a complete change, to own and operate their own business with great growth potential, all while living a fantastic lifestyle," she said.
Although the house bar is currently closed, the complex at 55 Rangatira Drive is operating popular accommodation facilities which have recently been refurbished.
She said the pub was in a thriving community of residents and holiday makers, among a raft of social, sport and hobby activities.
The Mangakino Hotel has recently been renovated. Photo/Century 21
"It's only a 40-minute drive to either Taupo or Rotorua, and only 20 minutes to Tokoroa. What's more it's just over an hour and a half to either Hamilton or the ski fields. And it has great freshwater fishing, boating, hunting, golfing, and cycle tracks."
Recent renovations on the hotel, restaurant and the accommodation block have made the property only more attractive for the likes of private functions, weddings, conferences, meetings, and exhibitions, she said.
The property has a commercial kitchen, large restaurant and lounge area that support the accommodation. There are nine guest rooms comprising twins, doubles, triple, and family - and all with their own shower and toilet.
"A large outdoor and partially covered garden bar separates but links the well set-up house bar which just needs someone to kick it back into life."
The current alcohol licence runs to 2018. There is also a former bottle store attached to the hotel.
One of the rooms in the Mangakino Hotel. Photo/Century 21
The commercial property also benefits from its main road position and plenty of off-street parking. However, the fact it's in the middle of the Mangakino business sector is its biggest attraction, she said.
She described the quaint town built after the war around hydro-electricity as "Paradise in the Middle of the North Island", sitting on the edge of beautiful Lake Maraetai.
"Many folks from all around New Zealand have discovered Mangakino, buying up many of the affordable former Ministry of Works two-bedroom cottages. There are new buildings, relocatables and developments taking place on a daily basis. It really is a good time to make those lifestyle changes," says Stevens.
Mangakino has a permanent population of fewer than 1000 people. However, this was increasing as people move into the district for a number of reasons, including lifestyle, house prices, and leisure pursuits, she said.
Mangakino has an area school, police, fire brigade and ambulance.
Stevens said the hotel would be ideal for a people-person or couple who want to be part of a great community.
"Working for yourself in such a serene location is food for the soul as they say," she said.
National Manager of Century 21 New Zealand Geoff Barnett said Stevens was well known in the area for ability to sell property.
"We just love her success and her passion for real estate and Mangakino. When you genuinely love an area as much as Christine does, buyers can see that and positively respond. She always achieves great results and the Mangakino Hotel will be another one," he said.
