Arrowtown service station and Coronet Peak Hotel on market


Tenders have opened on the old Arrowtown service station and on Coronet Peak Hotel at Arthurs Point.
The sale of the service station, which has been listed by Bayleys Queenstown, opens up the prospect that Arrowtown motorists will again be able to fill up.
The petrol station, operated under the Mobil brand, closed about five years ago.
“If you’re an Arrowtown local, when you see the fuel light go on the dashboard of your car, you don’t go any further than Frankton without filling up,” Arrowtown Promotion and Business Association manager Sue Patterson says.
The service station property includes Shamrock Motors, which operates as a vehicle repair yard, and the corner Arrowtown Gallery, an art gallery and picture framing business run from a former Methodist church built in 1903.
Plans were drawn up in the past two years for a two-pump petrol station on the site operated by Gasoline Alley, but these lapsed.
Bayleys Queenstown salesperson Simon Beadle says there’s an obvious need for a petrol station in Arrowtown to cater for both the local and visitor markets. 

Tenders close July 20.

Meanwhile the landmark Coronet Peak Hotel at Arthurs Point, which includes a bowling alley, has also been listed for mortgagee sale by Bayleys Queenstown.
The property has 78 rooms along with a restaurant and bar, an outdoor swimming pool, sauna and spa facility and a two-bedroom manager’s apartment.
Bayleys Queenstown salesperson Buzz Scown says the decor and fittings are fairly tired and a degree of investment would be needed to bring the hotel up to its former glory.
“Operational budgets within the property have been funnelled into underpinning frontline services rather than in structural maintenance.” 

Korea had delivered substantial bed night numbers but that market has never been replaced when it fell away at the beginning of the recession, Scown says.
Scown adds that the local Arthurs Point market had also been ignored.
The bowling alley had also languished, he says.
“The infrastructure for the bowling business is intact but like the rest of the property the ancillary services need upgrading.”
The property – including land on the edge leased to an LPG storage facility run by Rockgas – has an overall capital value of $6.8 million.
Last December the liquidators of Coronet Peak Hotel Ltd – which leased the premises from Coronet Alpine Ltd – stated that “the [Christchurch] earthquake in February 2011 was the death of the business”.
Coronet Alpine Ltd, owned by Wanaka couple Barry and Judy Ford, was in turn placed in liquidation in April this year. 

It was wound up by petitioning creditor Inland Revenue.
Tenders on Coronet Peak Hotel also close July 20.