The hotel comprises a single-storey building that dates back to the early 1950s. It was later extended and most recently it was renovated in 2007. It features seven guest rooms and bathrooms.
Attached to the main hotel is a four-bedroom owner or manager's home as well as a newer self-contained two-bedroom unit. The property also comes with a 40sq m double garage.
Improvements to the property include sealed yards, partial security fencing, and landscaped tree and shrub plantings.
McNab says the property offers several development opportunities.
"Sites of this nature and size are a rarity in this area and this one offers a multitude of options including scope for redevelopment. It is a large freehold property which presents an opportunity to add value to existing buildings, occupy as is, or construct new buildings as part of a strategy to grow the existing business.
"Possible ideas include extending the business to include a service station, garden centre, backpackers, or a cafe and restaurant serving meals using local produce.
"Alternatively, the core business could be changed to a trucking yard, boutique accommodation, company offices or other suitable business.
"This is a well-located freehold property that represents an opportunity for owner-occupiers and add-value investors. A number of endeavours could be pursued, which take advantage of the location and scope of the section."
Located on the junction of Saleyards Rd and State Highway 2 at Matawhero, the property is eight kilometres west of central Gisborne. Land use in the immediate area is largely farming, in addition to a nursery and the saleyards.
"The Jolly Stockman is strategically located, particularly for rural patrons and it has also become popular with trucking operators because of its good off-road parking and availability of meals and accommodation," says McNab.
In the early years, Matawhero saleyards were the lifeblood of the area, with drovers, agents, buyers, farmers, shepherds and truck drivers flocking to them for stock sales that were at the time among the biggest in the country.
The hotel site was also formerly the location of a blacksmith shop.
Since then the "Jolly", as it's known locally, has been a popular gathering point for visitors, locals and groups, participants in the annual pig hunters' competition, meetings after the annual A&P shows or tourists passing through.
"The property is in a high-profile position next to the main arterial route to Hawkes Bay, with an easy entry from Saleyards Rd, and has a substantial parking area," says McNab.
"The prominent location receives a strong flow of through traffic which would benefit a new operator."
What's on offer
The property: Jolly Stockman Hotel.
Location: 3 Saleyards Rd, Matawhero, Gisborne.
Agency: Bayleys Gisborne.
Offer: For sale or lease.
Sale: By negotiation closing October 9.
Features:
• Encompasses three buildings.
• Nearly one hectare of land.
• Vacant possession.
• High profile to State Highway 2.
• Upgrading offered for leasing.
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