Elevated view of Taupo Motorsports Park which is for sale at Broadlands Rd, Taupo.
Taupo Motorsport Park, regarded as one of the most picturesque premier motor racing venues in the world, and located 3 km northeast of the Taupo CBD just off State Highway One, is up for sale.
"Development plans are already in place to boost the cash flow past an existing $1 million per annum," says David Gubb commercial and industrial salesperson with Bayleys who is marketing the Broadlands Road for sale through an international tender process closing on May 21.
"Add-ons such as an off-road track, motorsport museum, cafe and other on-site tourism activities could make this facility into an international motorsport attraction and a national event centre," Gubb says.
The circuit is described as the only Federation Internationale de l'Automobile (FIA) Grade 2 motor racing facility in the country and the only New Zealand venue to have played host to the A1GP World Cup of Motorsport and the Federation Internationale de Motocyclisme (FIM) International Six Day Enduro.
"It is already attracting interest from domestic and international buyers given its potential to capitalise on tourism, event hosting and business opportunities," Gubb says.
The Taupo Motorsport Park was reopened in 2006 after undergoing improvements including the construction of a three-storey pit lane complex, track modification and work to ensure compliance with global motorsport industry standards.
The 42.25 hectare property close to the shores of Lake Taupo is in five certificates of title including two freehold titles designated the Taupo Business Park and Pit-Paddock Industrial Land.
The other three titles are leased from the Taupo District Council and are occupied by the Eastern Track and Drag Strip, the Western Track and the Pit-Paddock Land and Pit-Lane Complex. Each lease is for 99 years, made up of 33 years, plus two rights of renewal of 33 years each. The leases are of the underlying land only, as all improvements on the leased land are owned by the Taupo Motorsport Park.
Gubb says there is room for the erection of temporary grandstand seating and VIP, media and hospitality suites bringing the full spectator capacity to around 45,000 people. The main straight embankment gives fans commanding views of the entire 3.3 km FIA Grade 2 circuit.
He says five race track configurations are available, including a 3.5km technical circuit, the most recent 2.2 km track added in 2006 and an internationally-complying full length drag strip with 400 metre braking and emergency lengths, complete with separate control tower.
The park is booked for 151 days between March and December. Summer rates for hiring the international track range from $4000 for week days and $5800 for weekends, while over winter the rates reduce to $2800 and $4000 respectively. The Eastern and Western tracks are available at a discounted rate.
Gubb says the facility's major event hosting capability sets it apart from other New Zealand venues.
"Ideally placed access roads and close to State Highway 1 enabled organisers of the A1GP to clear cars belonging to a 33,000 strong crowd from all car parks within just 10 minutes of the event ending," he says.
Additionally, during the 2007 A1GP organisers ran 51 helicopters from Rotorua, Taupo and Napier airports to a grass heliport opposite the main gate. Two sealed helipads directly inside the main gate were made available for rescue helicopters and VIPs.
Gubb says the complex holds considerable appeal for racing teams, sponsors and promoters, situated just minutes away from Taupo.
"Accommodation is plentiful and the number of sideline tourism activities on offer gives the Taupo Motorsport Park a head-start on other provincial motor racing facilities around New Zealand," he says.
Other events regularly hosted at the venue include the V8 Supertourers, Toyota Racing Series, NZ Superbike Championships and the New Zealand Drifting Championships.
For 10 years the current owner has honoured a 'Use of Assets' agreement with the Taupo Car Club (TCC) to allow for a number of race meetings each year on dates agreed by both parties.
The agreement was drawn up as remuneration for the TCC in handing over the original track, plant and equipment valued at around $1.2 million, but does not extend beyond the first 33 year term of the current owner's 99 year lease.
"The motor racing circuit at Taupo has been in existence since 1977 on Taupo District Council reserve land leased by the Taupo Car Club which owned all improvements on the land prior to 2005 when it was taken over by the current owner," Gubb says.
"The club is a linchpin in the New Zealand motorsport scene, helping to grow the sport and ensure its future in the region."
The on-site business park, set on 1.6 ha of freehold land, is home to a number of industry-related tenants that undertake activities in driver training, adventure tourism and motor vehicle technology.
The park includes 4125 sq m of tenantable space divided into 15 units. Two of these units have already been sold under a commercial subdivision and unit title development.
Resource and subdivision consent has been granted for an additional 13 units to be sold by way of unit title.
"The blueprints are there to take the complex to the next level by incorporating the cross-selling of products and services," Gubb says.
"This is the catalyst for an investor to see the property become an all-encompassing motorsport precinct, and for Taupo to add another string to its tourism bow."