New purpose-built hotel in Auckland

66, Hobson Street, City Centre, Auckland City

Price On Application

Proposed Usage
Hotel & Leisure
Floor Area
1602.00 m²
Land Area
484.00 m²
Description:
Property ID
1c048x4

This is a unique opportunity to acquire a large hotel centrally located in the heart of the Auckland CBD. The plans allow for a restaurant, coffee shop, indoor swimming pool, gymnasium and meeting rooms.

Key features include:
- New purpose built four-star 208 room hotel
- Close to Sky City, Federal Street, Auckland's National Convention Centre and CBD
- Room plans cater for 23sqm to 30sqm with an estimated GFA of 9,300sqm
- Purchasers will have the ability to influence design to suit brand positioning within the market

New Zealand Trade and Enterprise (NZTE) report October 2017 estimates that additional hotel development is required to maintain a sustainable balance between demand and supply. High occupancy rates since October 2016 (86% Auckland) have led to significant room rate increases and rev par growth year on year of 18.7% in the Auckland region. ADR is expected to continue to grow through to 2025 as an estimated 9,700 new hotel rooms will be required to meet the tourism demand in each of the main centres. Even whilst new rooms are being established there is still expected to be a shortfall of 4,526 rooms by 2025 across the regions.

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City Centre Area