Commercial Development Opportunity In Kaikoura

For immediate use - March 25 2008

Commercial Development Opportunity In Kaikoura

A thriving tourist development opportunity is being marketed in the South Island coastal town of Kaikoura.

Six titles in Kaikoura’s main commercial area at 72-88 West End Parade are on the open market for purchase.

Marketing agent Rob Logie of Simes says this is an unusual opportunity.

“It is extremely rare to find such a significant commercial land holding for sale in a town’s centre,” he says.

“Together, these six properties provide a total land area of 3,223 square metres, with an overwhelming 68-metre frontage along the town’s main street, West End Parade.

“It would make a great hotel site or a combination of short-term and apartment accommodation. The area could cater for a broad range of business activities, such as entertainment or office space. The ground floor would be ideal for retail space because the the Kaikoura tourist infrastructure is right at the front door,” he says.

Mr Logie says the current owners have significant hospitality holdings and would be open to a joint venture development, or a simple sale.

He says there are several possibilities, because the local authorities are encouraging commercial development in the town.

“The council is being very proactive in encouraging development which will continue to expand on its tourist objectives. So there may be some flexibility around zoning, which allows for a development for perhaps health, education, offices, retails and entertainment,” he says.

The six properties at 72-88 West End Parade are for sale by Deadline Private Treaty, closing at 4.00pm on Thursday 17 April 2008, unless sold prior.

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