Jarvis says the accommodation provides a genuine heritage experience, consisting of seven-tiers of room options — all with ensuites and central heating; and many with access to the balcony and stunning views of the city and harbour.
The European-styled freehold property, spans 1856sq m of land in three separate freehold titles, at 295 Rattray St.
The offering includes a standalone hotel, adjacent 15-space carpark and recently renovated two-bedroom townhouse. Currently used as the owner's residence, this accommodation could extend earnings by being a rental.
Jarvis says the opportunity to purchase the business follows a decision by present owners to spend more time at their home in Central Otago and enjoy travelling.
"The owners have established a sound business over the years and built great relationships with inbound tour operators, booking agents, corporates and repeat local customers.
"I see huge potential for growth as the focus to date has been on operating at a level that suits the owners.
"Immense scope exists to cater to a wider global market and extend its offering to include evening dining and events such as weddings," he points out.
The business is located centrally, only a six-minute walk to Dunedin's CBD and has an established reputation with consistent occupancy rates and forward bookings.
Jarvis says there are plenty of local attractions that drive travellers to the area, with further projects already underway to spur further growth.
"Dunedin is well-known for the arts, music and its relaxed lifestyle, and has the best stadium in the country, which attracts top rugby games and sought-after concerts.
"With bold plans for a harbour redevelopment and new hospital build, which isexpected to be the country's largest construction project in recent times, there are significant long-term benefits to the city and the commercial accommodation sector in the surrounding areas.
"This property showcases plenty of potential for further development."
