Hotel Ashburton’s business operation for sale
The Hotel Ashburton’s business operates within a well-maintained complex.
The Ashburton Licensing Trust is selling the business operation and leasehold interest in its flagship property, Hotel Ashburton.
“The trust will become the landlord and retain full ownership of the land and building,” says Philip Cooper, of Colliers International in Christchurch, who is marketing the business for sale by deadline treaty closing on May 10.
The hotel, to the north of the town centre on Racecourse Road, sits on 3.8 hectares and has a significant land holding including a manager’s house, tennis courts, swimming pool and surrounding manicured gardens. It has a floor area of 5450sq m and 54 guest bedrooms as well as a large conference facility, bars and restaurant.
Cooper says there has been strong early interest in the business which operates from a well-maintained complex.
“Ashburton over the past few years has gone ahead strongly because of the agriculture sector and the continuing development of dairy. This has spilled over into solid business growth, including the nearby new Ashburton Business Park.
“The continuing growth of tourism in New Zealand is also likely to have an impact,” says Cooper.
“Assets like this will probably prove more profitable to the trust with the business operating under private ownership because of the reduction in overheads.”