Historic hotel sale likely in weeks

The beginning of an exciting new era at the Castlecliff Hotel is only weeks away according to Bayleys Real Estate Lower North Island salesman Robert Davies.

The sale of the 127-year-old building was due to be completed last month, but Mr Davies said due to tough economic conditions and the nature of negotiations the process has gone on longer than expected.

"Times are tough and people know that," he said. "There are definitely two parties that are very interested plus other parties have been in contact with us."

The hotel has been part of the Castlecliff community since 1885 and originally included a stable with stalls for six horses.

Mr Davies said the hotel could benefit from a new owner who had the vision to modernise facilities while retaining its unique culture and heritage.

"The vision for Castlecliff is to create a pavement-style cafe culture similar to that seen in Auckland, Wellington, Napier and Nelson."

The sale includes the business and building.

The 1269 square metre site is currently leased. It is affiliated with DB Breweries, which two years ago set up the Classic Pub Network of New Zealand.

"The Castlecliff Hotel has been a stalwart of the local community for many years and has the support of loyal local clientele," Mr Davis said.

He added: "There are nice sea views included."