Having the opportunity to buy both management rights and a freehold interest in an accommodation property is pretty rare indeed.

But that’s what’s up for grabs with boutique hotel Hurley’s of Queenstown, on 1 Melbourne Street.

About 700 metres from the resort’s CBD, it’s currently fenced off on its Frankton Road boundary, however it’s going to be at the
very entrance to the new CBD bypass once stage one’s complete.

A buyer’s able to purchase, from separate vendors, the Hurley’s management rights, for $2.5 million, and 17 of the 22 freehold units, for $6,410,000 — both are for sale together, or separately.

An earlier deal to buy the management rights fell over when Covid struck.

The management rights and real estate are being marketed by Bayleys tourism division sales people Allister Simpson, of Queenstown, and Wayne Keene, of Auckland.

Simpson says inquiry levels picked up once the opportunity to buy the freehold units, in addition to the management rights, came up.

‘‘Interestingly, we’ve had inquiries from people who haven’t been in the tourist industry previously.’’

‘‘We’ve had four interested parties, including some from offshore,’’ Keene says, however no deal’s been done yet.

‘‘The process is a little bit longer than we were used to, pre-Covid.’’

Room with a view: The sale includes 17 of the 22 freehold units

The management rights run through to 2029 with two further 15-year rights of renewal till final expiry in 2059.

Included in the rights are a one-23rd share of the property and ownership of a three-bedroom, two-level manager’s home by the reception area.

The 17 freehold units comprise five executive studio units, nine premier studio units, a honeymoon studio suite, a one-bedroom interlocking unit and a two-bedroom, two-level apartment.

Ground-floor units include courtyard space and first-floor units come with balconies while most units enjoy good lake or mountain views.

Facilities include a 24/7 gym, two saunas, a ski gear drying room, storage locker for guests’ sports equipment and off-street parking for about 20 vehicles.

Though the complex was built in 1999, it’s said to be well-maintained.

Despite access constraints, occupancy levels this year have been running even ahead of pre-Covid levels.

Keene says Hurley’s, due to its small size, is able to keep all its units open as against larger complexes, many of which are shutting off a percentage of their rooms due to the resort’s crippling staff shortages.

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