Chateau Marlborough sold off market to international investor by Bayleys Real Estate
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Chateau Marlborough sold off market to international investor by Bayleys Real Estate
The Chateau Marlborough sold in an off market deal to an international investor by Bayleys’ Gill Ireland and Wayne Keene.
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Chateau Marlborough sold off market on a yield of 6.5% by Bayleys Real Estate
The Chateau Marlborough sold in an offmarket deal to an international investor by Bayleys’ Gill Ireland and Wayne Keene.
Located at 95-117 High Street, on the corner of High and Henry Streets in Blenheim, the high profile property offers luxury boutique hotel accommodation.
The vendor bought the property in 2005 and completed an extensive refurbishment in 2008 which consisted of ground suites, restaurant, fitness centre, day spa, conference and business centre, lobby and offices. There was another upgrade in 2016 expanding the restaurant and refurbishing the pool along with the completion of new wing. This brought the number of rooms to 80.
Chateau Marlborough features 29 studios, 23 superior studios, seven executive suites, 16 grande suites, four one-bedroom apartments and one two-bedroom penthouse.
The property sits on a site of 5,038 square metres with the floor area totalling about 4,562 square metres.
Mr Keene said that despite the last two years of disruptions with lockdowns, the hotel continued to operate and provide an excellent standard of accommodation to guess with the business set to produce figures above budget this year.
“Chateau Marlborough has been independently accredited to a five-start Qualmark rating and one of only ten in New Zealand and the only one in the top five on the South Island.
“Marlborough’s premier five-star hotel overlooks Seymour Square Gardens and is situated just a short two minute stroll to the town centre,” he added.
Blenheim is the South Island’s gateway to wineries of the Wairau Valley and is only a short drive to Picton where passenger and freight are ferried across the Cook Straight to Wellington. The area is a quick 90 minute flight from Auckland and 30 minutes from Wellington.
Gill Ireland Added, The area enjoys the benefit of both corporate and holiday makers throughout the year who come to enjoy New Zealand’s best beaches and natural environment. Marlborough’s wine district is world class producing some of the best sauvignon blanc as well as being about fresh seafood sought by the top chefs.
Attractions to the area include the Aviation Heritage Centre, Classic Car Museum and the popular food and beverage.
The sale comes after several deals negotiated by Bayleys Real Estate including:
- The Carnmore Hotel Christchurch which sold for $18.4 million. The Carnmore Hotel has 89 rooms with the agents reporting multiple offers with competitive tension.
- Great Barriers Island sold for $3.15 million. Offering waterfront freehold the property drew enquiry from 47 parties.
- Lakes Lodge Okataina sold for $3.05 million with four competitive offers.
To request a case study for the Chateau Marlbourgh transaction and or further information about the above sold properties mentioned in this article please contact the selling agents Bayleys’ Real Estate’s Wayne Keene and Gill Ireland via the below contact details.
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