An iconic Queenstown property, going to the market for the first time in almost 25 years, could be a savvy buy for businesses looking for staff accommodation.
Run as Hippo Lodge since 1999, 4 and 6 Anderson Heights comprises three buildings sitting on three titles on a 1265 square metre land parcel.
Originally built as residential homes in the 1960s, they were converted into commercial accommodation 24 years ago and now house up to 55 guests in short-term backpacker-style accommodation.
The buildings, Top House, White House and Bottom House, feature a range of bedrooms, kitchen and bathroom facilities and with spectacular lake views, a short walk to the Queenstown CBD and a nearby supermarket.
Harcourts Queenstown’s Allyra McGrath sees potential for them to be used for long-term staff housing.
‘‘It’s a rare opportunity for a savvy investor to step in and continue the legacy, create ideal staff accommodation in central Queenstown, or completely reimagine the site,” McGrath says.
“It currently has some short- and long-term tenants in place because it’s really well set up for that, and it has a really friendly, community feel.
‘‘It’s a bit of an old-school gem really.’’
The owners have separated the business and accommodation, so while the buildings and land are for sale, the Hippo Lodge business is not.
McGrath says there’s been ‘‘exceptional inquiry’’ during the first week of listing, locally, from across New Zealand, and Australia.
Most of that’s been from people keen on running a backpackers, transforming it into a boutique bed and breakfast, using it for Airbnb, or taking on long-term tenants.
Others are seeing the future development potential of the land, zoned high-density residential.
‘‘It’s a really unique property that has so much potential for the future, regardless of what buyers want to do with it, a rare and valuable proposition so close to the CBD.’’
The land and buildings are being offered by deadline sale, closing Wednesday, August 23 at 4pm.
