Ohakune motel investment property

The Ohakune Court motel complex, at 101 Goldfinch St. Photo / Supplied

Land and buildings housing an established Central Plateau motel are for sale at the Southern gateway to Tongariro National Park.

The 18-room Ohakune Court Motel is a popular base for skiers and snowboarders in winter. During warmer months it attracts hikers, mountain bikers, rafters and kayakers.

The operation comprises a range of studio, one, two, and three-bedroom units, plus a three-bedroom manager's residence with adjoining office and reception area. A block garage stores guest mountain bikes, motorcycles, snowboards and skis, kayaks and other equipment.

The 808sq m motel buildings has a seismic rating equal to 75 per cent of new building standards and sits on 2288sq m of freehold land, at 101 Goldfinch St.

Nicolas Ching, James Chan and Jenny Dekker are selling the property on which the tenant business (which is not for sale) holds a 30-year-lease running through to 2044. This generates an annual rent of $108,300 plus GST.

Featured in the latest Total Property portfolio magazine, the property is to be auctioned at 11am on April 10.

Ching says the 1978-vintage motel had additions and alterations from 1993 and 2004, as guest nights grew and more rooms were needed.

"Units are split across two L-shaped wings — one a two-storey structure with dual stairways leading to access decking at the front of the upper units, and the other a single-level block. Construction of both ground floor portions consists of concrete foundations with reinforced masonry walls and timber partitions.

"The business benefits from being located within Ohakune's town centre, enabling guests to walk to the town's retail amenities and hospitality venues. Most units have views of Mount Ruapehu and Tongariro National Park."

Ching says it's an entry-level property investment opportunity in the robust tourism sector — underpinned by a tenant with a long lease in place.

"The motel's core target market is active leisure travellers, mainly split across the summer and winter seasons, with shoulder periods stretching into autumn and spring. Length of stay depends entirely on the weather.

"In winter — from June to late October — Ohakune experiences high occupancy rates from skiers and snowboarders visiting Whakapapa and Turoa ski fields; in summer — from December to February — it is heavily booked by hikers walking the alpine crossing and cyclists riding the region's bike trails.

"The motel provides complementary transport to the Bridge to Nowhere, Old Coach Road and Tongariro Crossing walking and cycling tracks."