The $250 million building housing the 41-level, 225-room Hotel Indigo (centre) rises above the Auckland skyline. The building has a 13-floor, 30-unit residential tower above which is not part of the $160m sale. Photo / Jason Oxenham
The $250 million building housing the 41-level, 225-room Hotel Indigo (centre) rises above the Auckland skyline. The building has a 13-floor, 30-unit residential tower above which is not part of the $160m sale. Photo / Jason Oxenham
Prime Minister Christopher Luxon today welcomed the Malaysian buyers of Auckland’s new Hotel Indigo Auckland on Albert St after a $160 million purchase application won approval.
Malaysian infrastructure and investment giant YTL Corp last month won Overseas Investment Office consent to buy the 225-room hotel, a statement from YTL said.
That statement quoted Luxon in Kuala Lumpur, who is at the 47th Association of South East Asian Nations (Asean) summit.
“I’d like to congratulate YTL on its investment decision, which is a clear vote of confidence in our visitor economy and our cities,” Luxon said.
“YTL is an integrated infrastructure developer with a significant footprint in Asia and an important relationship for New Zealand.
It had opened Malaysia’s AC Hotel by Marriott Ipoh in January, the Moxy Kuala Lumpur and Chinatown in April, AC Hotel Puchong last December and next year will open Moxy Niseko in Japan.
Prime Minister Christopher Luxon attended an event to celebrate a new halal certification agreement. Photo / Jamie Ensor
The Overseas Investment Office confirmed to the Herald this month that consent had been granted for the purchase but no further details were provided.
Sam McVay, managing director of McVay Real Estate, said Australia’s Ninety-Four Feet had sold the hotel, developed in and above the heritage 1912 McDonald Halligan motors beneath it.
McVay sold the property with Bruce Whillans Realty Group.
The 41-level project was finished earlier this year and last June, the Herald visited for a first look inside.
The 225-room hotel opened in April and has a 13-floor, 30-unit residential tower above.
That is not part of the sale.
Dean Rzechta of Ninety-Four Feet (left) and Hotel Indigo Auckland general manager Matt Simister on level 41 of the new tower. Photo / Jason Oxenham
The full development, including the apartments, has been cited as a $250m project.
The interior design theme of IHG’s hotel is classic motoring, with the 41-level building at 51 Albert due to open later this year as New Zealand’s first hotel branded with that name.
Dean Rzechta, managing director of building owner and developer Ninety-Four Feet of Australia, Icon New Zealand director Dan Bosher and hotel general manager Matt Simister showed off the hotel last year.
Australian architect Scott Carver designed the building and did the interior design.
A scaffolding-inspired open wardrobe and pegboard display make reference to the building’s auto-mechanic history and provide space to tell the neighbourhood story in imagery such as the tūī feathers on the throw cushions and objects such as jet plane lollies.
Rzechta said Ninety-Four Feet owned the building but acknowledged the market was “challenging”.
Hotel Indigo - inside one of the rooms.
He engaged agent Graham Wall to sell the level-41 penthouse for $18-$20m, although he said last year the price would ultimately be decided by the market, he said. The penthouse was to be two levels and go for around $26m, but Rzechta said there was less of a market for an offering like that these days.
“We have set the pre-sale price record for a penthouse apartment in New Zealand,” he said, citing the $18.2m planned sale of the as-yet unbuilt project Lakeview Taumata.
Rzechta said that was a record and at just under $42,000/sq m, “the most expensive apartment sold off the plans in New Zealand”.
