Victoria Arms Hotel Development Site for sale in Cromwell
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| Property ID: | THL17-1009 |
| Property Type: | Hotels, Bars, Country Pub, Development Site |
| Sale Type: | Freehold Going Concern |
| Region: | Queenstown / Wanaka / Central Otago |
| Address: | 65 Melmore Terrace Cromwell South Island New Zealand |
| Price: | $2,500,000.00 NZD |
Tourism & Hospitality Broker
| Phone: | 03 409 0093 |
| Mobile: | 021 193 0093 |
| Email: | ian@tourismproperties.com |
PROPERTY INFORMATION
VICTORIA ARMS HOTEL - DEVELOPMENT SITE FOR SALE IN CROMWELL - CENTRAL OTAGO - EDGE OF LAKE DUNSTAN - 3 TITLES - POTENTIAL TO BE SIGNIFICANT ACCOMMODATION DEVELOPMENT SITE - FREEHOLD GOING CONCERN
Victoria Arms Hotel Development Site in Cromwell, Central Otago was established in 1863 and is situated on the edge of Lake Dunstan which is one of the most rapidly developing areas in Central Otago, making this a superb opportunity for an astute investor.
The property currently consists of 4046m2 in 3 titles including:
- The historic Victoria Arms Hotel
- Suburban store and dairy with attached 2 bedroomed home;
- 4 bedroom house.
The Hotel consists of:
- Lounge bar
- Public bar
- Garden bar
- Upstairs conference room
- Lakeview restaurant
- Bottle store
- TAB
- Pokies
- Backpacker accommodation with 10 beds.
The suburban store and dairy is a large building with some 126m2 of open shop area. The shop is currently leased.
The 127m2 dwelling has a kitchen/dining room, 2 bedrooms, bathroom, separate toilet and laundry on the ground floor and another bedroom and living room on the first floor.
Plans have been drawn for a significant accommodation development on the site.
The hotel is currently run as a freehold going concern.
Property Details:
- Victoria Arms Land 2428m2
- Suburban Store/Dairy / attached home Land 809m2
- 4 Bedroom House Land 809m2
Tenancy Details:
- Victoria Arms Freehold Going Concern
- Suburban Store/Dairy/ Home Lease in place
- 4 Bedroom House Vacant Possession
Financials: Financial and supporting information can be accessed from the download links. Please Note that files containing sensitive information are password protected.
BROKER CONTACT DETAILS: For further information on the SALE of VICTORIA ARMS HOTEL DEVELOPMENT SITE FOR SALE in Cromwell please contact Tourism & Hospitality Business Broker IAN PATERSON either via this website www.tourismproperties.com or by telephoning on 021 193 0093 or 03 409 0093 or email: ian@tourismproperties.com
FEATURES
Cromwell is a town in Central Otago in the Otago region of New Zealand. It is situated between State Highway 6 (linking to Wanaka, 50 km north, and Queenstown, 60 km west) and State Highway 8 leading to the Lindis Pass, 75 km northeast, and Alexandra, 33 km south. The road to Alexandra winds through the Cromwell Gorge.
In 1862 gold was discovered at the river junction, leading to the arrival of thousands of miners. After gold became scarce, the area became a centre of pastoral farming and stone fruit production. The latter is commemorated with the giant sculpture of stone fruit which stands outside the northern end of the town.
Cromwell formerly lay at the confluence of the Clutha River and Kawarau River, which was noted for the difference between the colours of the waters of the two rivers and also for the historic bridge at the convergence of the two.
