Multi-faceted hospitality business for sale

Multi-faceted hospitality business for sale in Clive

The thriving Clive Hotel and River Bar located on SH 2, Clive, is for sale as a going-concern with Bayleys Hawke’s Bay.

The business includes an upmarket licensed restaurant, two bars, a busy TAB and 18 gaming machines.

“This business stands out for its diverse income strands and is the only hospitality business marketed by Bayleys in recent years to boast five separate income streams”, says Adam Ryan, business broker with Bayleys Havelock North who is marketing the property with colleague, Rollo Vavasour.

“We have received multiple enquiries in the short time that the business has been on the market – including one from Wellington - which is heartening. This indicates quiet confidence in the Hawke’s Bay economy and recognises the importance of local hotels as gathering places in the community,” says Mr Ryan.

The township of Clive was founded in 1857 and it is understood that the Clive Hotel was originally established in 1866. The hotel retains its central position in the hub of the small village that lies halfway between the twin cities of Napier and Hastings and which serves as a support satellite for the nearby coastal settlements of Haumoana, Te Awanga and Clifton.

The business is owned by Trinity Group Limited, a successful hospitality organisation that has operated bars, hotels, accommodation businesses and entertainment venues throughout New Zealand for the last decade. There is six years to run on the current lease of the land and buildings with a further six year right of renewal.

A total upgrade in 2006 of the hotel and River Bar premises and decor has resulted in a modern look that is accessible and welcoming. The restaurant provides lunch and dinner service with seating inside for 40 people and a further 30 outside on the deck areas. A separate bar caters for this clientele, while the public bar – with two pool tables and large projector screen plus two plasma televisions for sports viewing - and the TAB areas, have their own separate access from the main road. An additional function, meeting or conference room seating 20 people is located directly off the restaurant area and is set up for business presentations.

“The character building has been totally refurbished and the business really presents as new,” says Mr Ryan.
“Thought has gone into utilising the outdoor spaces to take advantage of Hawke’s Bay’s climate and a lot of care has been put into the decor. The restaurant area is classy and attractive and has an established clientele with a lot of return business. It has proven to be a popular meeting place for business people choosing to meet halfway between Hastings and Napier.”

A three-bedroom apartment behind the restaurant provides on-site accommodation for a live-in manager or owner with the potential to further develop this for long-term tenants providing yet another income stream for the business.

Comprehensive chattels form part of the business sale and full financials will be released to qualified prospective purchasers.

Clive township and its surrounding area has seen some resurgence in recent years with a new retail complex fully-leased, homes along the Clive River being extensively upgraded and high demand for new residential subdivisions in the area.

“Two residential construction companies have opened showrooms in Clive – one of which has a display home – which is a reflection of the buoyant residential property market. Sections within three sizeable residential developments in the immediate Clive area are fully-sold and there is a further one due for release soon, so the potential target market for the Clive Hotel and River Bar has blossomed,” says Mr Ryan.

The Clive Motel - which operates 15 units directly behind the hotel business and a further seven units directly across the road – also provides a ready source of patrons.

“The diversity of income streams that this business offers will give a new owner a low-risk profile within the hospitality industry in a go-ahead Hawke’s Bay town. This business will provide a fresh start for an astute operator looking to secure their future.”

The Clive Hotel and River Bar will be sold as a going-concern by negotiation through Bayleys.

ENDS

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