CBRE is proud to offer this outstanding well-positioned four-level property boasting its main tenant, international hotel chain Quest Hotel, and a small tenancy to Rotorua Business Chamber located in central Rotorua. This is an investment opportunity for investors to acquire a hotel asset within a tightly held and strong-performing tourist centre.
The anchor tenant Quest Hotel features 36 generously sized self-contained units from studios to two-bedroom apartments. The hotel also offers a step up into executive full-sized apartments and all feature private balconies with relaxing private hot tubs.
Quest Hotels operates under a franchise model, with hotels run by passionate local owners who know the surrounding areas. These dedicated franchisees are committed to the ongoing success of their respective businesses.
Rotorua Business Chamber is the second tenant occupying a small office tenancy on the ground floor across the lobby from the Quest reception area. RBC has been in business since 1908 helping local businesses within the community.
Together the two tenants are generating a net annual rent of $627,556.53 with growth.
The subject property occupies a prominent, high-profile location in Rotorua Central within easy walking distance to city attractions and the famous Rotorua Lake waterfront and the freehold site is approx. 910sqm. 1192 Hinemoa Street, Rotorua is currently zoned under City Centre 1 Zone, it will benefit from Plan Change 9, once it becomes operative, it will increase the height limit to 32 metres which will increase the density of the incoming purchaser choosing to redevelop the site (For more information please visit the Rotorua Lakes Council website for more details on Plan Change 9.)
For sale by Price by Negotiation.