Peppers seasoned to investor tastes

11:30 AM Wednesday August 26, 2015 Colin Taylor

Aerial view of Peppers Parehua Lodge for sale at New York St West in Martinborough, Wairarapa.

The land and buildings, with a contract supporting a five star hospitality business in the wine centre of the Wairarapa town of Martinborough, have been placed on the market for sale as a freehold going concern.

Peppers Parehua lodge comprises a 28 unit luxury accommodation business operating on 2.5431hectares of land across 10 titles along with administration offices, a restaurant, bar, function venue and recreational facilities.

“The assets are being sold with a verified management contract in place to the Peppers tourism organisation,” says James Higgie of Bayleys Wellington who, with colleague Paul Dixon of Bayleys Auckland, is jointly marketed the land and buildings for sale by negotiation.

Higgie says the lodge in New York Street West was built in 2005, is adjacent to Palliser Estate winery and has a variety of accommodation options.

Peppers can host a total of 60 guests overnight in 22 standalone 59 square metre executive suites; four two-bedroom 82 sq m cottages; and two 2-bedroom 124 sq met villas.

All units have fully equipped kitchens, minibars, and open gas fires, and are within a short walking distance of an 869 sq m central services block.

Recreational amenities available for use by lodge guests include a fenced in swimming pool and fenced full-sized artificial turf tennis court. The landscaped grounds with mature tree plantings and gardens encompass a man-made lake with its own jetty and surrounding manicured lawn area capable of hosting skeet shooting, croquet and petanque.

Buildings on site include a pre-fabricated machinery and equipment garage, a grounds shed, separate linen laundry room, pool pump room, and swimming pool changing rooms.

“All rooms in this boutique estate are contemporary in design, feature New Zealand art and provide the perfect escape for romance, celebration and a little time out,” Dixon says.

“This property is located in one of New Zealand’s best known wine growing regions boasting over 40 wineries while being just over an hour by road from Wellington.”
Seven accommodation properties operate in New Zealand under the resort styled Peppers brand including sister venues in the Far North, Rotorua, the Abel Tasman National Park, Queenstown, Christchurch and Lake Tekapo.

Peppers Parehua, New York St, Martinborough - bar area.jpg

Bar area in Peppers Parehua Lodge, Martinborough. 

“The Parehua estate is marketed on a two pronged approach. The first as a mid-week corporate meeting and conference destination for the Wellington commercial sector; and secondly as a weekend leisure destination for guests travelling to the region from across the Lower North Island,” Higgie says.

“Peppers secured its position in the Wairarapa accommodation market on the back of the successful wine tourism industry, which has been growing in stature since the early 2000s, and the concurrently increasing corporate sector coming out of Wellington and looking for overnight stay conference and incentive venues.

“The split target marketing approach allows for Peppers Parehua to often manage three events within a seven day period – two corporate functions during the week and capped off with the likes of a wedding or family gathering on the weekend.”

Higgie says that despite the high occupancy rate and usage levels of the lodge’s facilities, the accommodation units and their furnishings have all been maintained to a high standard to underpin the business’ five star rating.

Peppers Parehua, New York St, Martinborough - room.jpg

Accommodation suite in Peppers Parehua Lodge. 

Dixon says the cottages have been built on concrete slab flooring and feature a standard timber framing with weatherboard cladding, aluminium window joinery, and iron roofing. All units have their own self contained kitchenette amenities.

Staff lodgings at Peppers Parehua features a two bedroom manager’s flat with its own living space and kitchen, and a separate one bedroom chef’s quarters with kitchenette and bathroom facilities.

The lodge’s food and beverage service is licensed to serve up to 100 patrons and is supplied from a commercial-grade kitchen incorporating stainless steel islands and benches, a pair of turbo-fan ovens, four ring gas hob, and griller.

“With an existing hotel management contract in place for Peppers Parehua, the sale of the land and buildings associated with the business represents an excellent investment opportunity,” Dixon says. 

 

What’s on offer?

 

The property: Land, buildings with contract to Peppers Parehua Lodge.

Location: New York Street West, Martinborough, Wairarapa.

Agency: Bayleys Wellington and Auckland.

Sales method: By negotiation.

Features:

  • Verified management contract with Peppers organisation.
  • Contracted lodge has five star rating.
  • 2.5431 ha of land across 10 titles.
  • 28 luxury accommodation units.
  • Only an hour by road from Wellington.

Paul Dixon.jpg

Paul Dixon, Bayleys Auckland.