Hope springs eternal for thermal hot pools sale

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One of New Zealand’s most popular hot springs resorts – and home to the longest hot water slide in the country – has been placed on the market for sale.

Waingaro Hot Springs in the Waikato is a complex featuring three thermal mineral pools, a series of private spa pools renovated recently, the famous hot water hydro slide, plus bumper boats and gas barbeques.

The thermal springs resort is located in the peaceful country district of Waingaro - 38 kilometres north west of Hamilton CBD near Raglan, and 117 kilometres south west of Auckland. It is a pleasant rural drive from both cities along a good sealed road.

Tourists are well catered for with a range of accommodation options. The Waingaro Hot Springs Hotel is leased to a separate operator until 2015 and is returning net annual rental income of $30,000.

Former Te Awamutu farmer and businessman Chood Singh, who has operated the family-run Waingaro Hot Springs for the past 17 years, has no specific plans for his retirement after the sale.

One thing he is sure about, however, is that while he won’t miss the daily work of running the hot springs business, he will miss the people, many of whom have made repeat annual visits from all over the world. The Singhs say its time for new owners to take the business forward and to build upon the many improvements they have added to it.

“We recently talked to a German tourist here who said this had been his port of call every year for nine years on his tour of the country. He’d visited New Zealand numerous times and always stopped over at our hot springs.”

The number of international visitors who drive their camper vans onto the site along with the domestic tourists who visit regularly – as well as the lovely rural outlook - has been what has made their tenure so pleasant, he adds.

“It is quite different to the dairy dry stock and deer farming we did beforehand, but we’ve loved the people and the rural outlook,” said Chood Singh.

The rest of the accommodation is run by the Singhs themselves. It includes eight cabins, a large flat, three caravans, three motel units and various camp and campervan sites. Guest facilities include a store, laundry, children’s play area with trampolines and a tree hut, recreational lounges, one with a pool table, a television lounge, gas barbecues and picnic areas. There is also and a restaurant and bar at the hotel.

With the Singhs retiring, the Waingaro Hot Springs’ business, pools and buildings located on a 13.9ha leasehold site are up for sale by expressions of interest, with offers to be lodged by April 7. It is being marketed by Brian Johns, of Bayleys Auckland, in conjunction with Mike Swanson of Bayleys Waikato.

A four-bedroom owner’s home sits high above the pool and camping complex, enjoying seclusion and privacy. It has a good sized deck from which to watch the sun set at the end of the day, says Brian Johns.

The hot springs already enjoy patronage from a wide local area - offering considerable potential for increased income with some specific marketing of the existing facilities, he says.

“It could certainly be marketed more widely to tour groups or as a weekend break for couples wanting a rural retreat with the bonus of the hot springs. There is also potential in the school camping market - by offering day packages for schools accommodated at the local Christian camp. The complex’s deer and aviary enclosures are an added bonus,” Mr Johns said.

Johns says there has been interest in the business, especially from owner-occupiers looking for a rural lifestyle and a good income with some interest also coming from investors.

ENDS

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