Character Backpackers with Long Lease

373, Karangahape Road, Auckland City

Offers

Proposed Usage
Hotel & Leisure
Floor Area
805.00 m²
Land Area
232.00 m²
Description:
Property ID
1c5rlh8

• Premium backpacker location in close proximity to Karangahape Rd CRL station due for completion in 2024
• Trophy Hostel on prominent corner leased to Haka Group, one of the most awarded operators in NZ
• New 12 year lease to the well established Haka Lodge returning $325,000 plus GST making for a hands-off investment
• Fixed biannual rental increases
• Refurbished in 2015 including seismic strengthening
• 18 rooms providing 71 beds along with quality communal areas

This is a rare opportunity to acquire an earthquake strengthened property in a prominent location on the gentrifying Karangahape Rd. The location is expected to improve even further with the City Rail Link now under construction and the Karangahape Rd Stations will be less than a few hundred metres from Haka Lodge. Haka is a proven operator, having occupied the property since 2015 as well as a much longer history developing the Haka Tours business, one of the key sources of business for the Lodge. The Lodge occupies a corner site and is a prominent feature of the well-known entertainment precinct. Exposure to the accommodation sector with backing of this quality is not to be missed.

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Auckland City Area