By PHILIP CHANDLER
A Glenorchy lodge’s multiple income streams is being touted as a major selling point for
Bold Peak Lodge’s business is for sale by negotiation, ‘‘but a buyer should be able to get it for under $500,000,’’ Queenstown-based Tourism Properties.com broker Adrian Chisholm says.
Having a number of different operations under one roof offers something of a cushion for a buyer in these challenging times, he believes.
Those operations include Humboldt Bar & Restaurant, Sugar Loaf Cafe, with indoor and outdoor seating, a function room with an open fireplace that’s suitable for conferences and
weddings, and 11 ensuited guest rooms along with managers’ accommodation.
The lodge is also pretty much at the centre of what passes for Glenorchy’s CBD so it’s a magnet for a lot of walk-in business as well as being close to the lake.
‘‘It’s a very popular destination and it’s trading well,’’ Chisholm says.
‘‘It’s a great entry-level opportunity for a hospitality operator.’’
Though tourism’s taken a hit from Covid, he says areas like Glenorchy and Stewart Island have been discovered by a lot of Kiwis locked out from travelling overseas.
Chisholm confirms the lodge has been for sale before, but there hadn’t been much activity during Covid, and the listing’s now been refreshed.
‘‘We’re coming out of Covid with the first bubble opening, so it’s a good time for someone to have the confidence to get in there.’’
The lodge’s freehold is owned by an Auckland investment company.
It’s been been leased for a number of years to Central Otago hospitality operators, however they now want to retire.
Chisholm says the lease has 12 years to run if all renewals are taken up.
Rent’s $120,000 a year plus operating expenses.
Vendor finance is also available to approved parties.