Paekakariki boutique hotel
In Paekakariki the land, buildings and business comprising Finns is for sale – identified by a red border. Photo / Supplied
A boutique accommodation offering 200m from the Paekakariki beach — with restaurant, bar and an intimate in-house cinema — is for sale as its founders prepare to retire.
Land, buildings and business of Finns Paekakariki, 2 Beach Rd, are for sale, with interested parties able to tender for them individually or together. Bayleys Wellington will receive tenders up till December 6.
Nancy and Kevin Crowther started Finns Paekakariki from scratch 10 years ago and developed the business offering to suit a varied clientele.
Income is derived from accommodation in eight quality apartment-styled units; a 60-seat restaurant; a bar with a small off-licence; nine gaming machines contracted to the Pelorus Trust and a new high-tech cinema seating 26.
Bayleys’ Stephen Lange says the Crowthers have built the business up to a level that prospective purchasers will find compellingly attractive.
“The hard yards are done; it’s time for them to step away and enjoy a more relaxing lifestyle. There’s still potential for a new owner to develop. Future income streams and improvements could include opening seven-days-a-week from six days at present, expanding the off-licence, upgrading gaming machines and further marketing of Finns Paekakariki as an all-in-one destination.
“Wellingtonians based in the city centre already jump on the train for a weekend escape to Finns, finding so much to do once they’re here,” says Lange.
“They bring bikes on the train and explore the cycle trails in Queen Elizabeth Park, or walk the new 10km Escarpment Track from Paekakariki to Pukerua Bay.”
The two-storey 1002sq m building is in near-new condition and is located on the seaward side of SH1, adjacent to Paekakariki railway station.
This section of SH1 will lose its State Highway designation when the new Transmission Gully expressway opens around 2020.
“However, it is widely felt that Paekakariki is a destination in itself and not inherently reliant on passing traffic for its future prosperity,” says Lange.
“Removing heavy traffic from the equation will simply make it easier for patrons and potential guests to access the facilities.”
The property is zoned Commercial-Retail under the Kapiti Coast District Plan. Tavern and restaurant, together with gaming facilities, and the 26-seat boutique theatre are on the ground floor. The first floor comprises eight studio-style accommodation units along with a former conference room facility that could easily be converted into an owner-manager’s apartment.
Seven covered carparks at the rear are accessed via a sealed driveway with security gates along a common driveway to Wellington Rd. The property shares with an apartment development the use of a rear common area.