Auckland, 2 May 2015 - One of New Zealand’s most-loved summer holiday destinations, Hahei Holiday Resort, on New Zealand’s picturesque Coromandel Peninsula, has come onto the market for the first time in over 50 years.
Marketed on behalf of Hahei Holidays Limited by John Bedford and Warren Hutt of CBRE, the 6.79 hectare Hahei Holiday Resort - which comprises a significant part of the beachfront and land behind Hahei beach - is offered for sale as a Freehold Going Concern property by way of International Expressions of Interest, closing for offers on Wednesday 10 June at 4pm.
“Hahei Holiday Resort is a slice of Kiwi summer paradise, the destination of choice for generations of Kiwi families,” says John Bedford. “An easily accessible two-hour drive from Auckland, Hahei is a playground for holidaymakers and tourists to enjoy world-class diving, fishing, swimming and boating, surrounded by some of New Zealand’s top natural attractions.”
Bedford says that for more than 50 years campground founders Dawn and Vaughan Harsant and their family have offered the Hahei Beach Resort as a place for families and friends to connect, relax and unwind.
“The family feel truly privileged to have been able offer such a special place to the public for so long, and they know how strongly connected people feel to this wonderful place. However, after 50 years of ownership and investment, and following the sad death of Dawn Harsant last year, the family are looking for new owners to continue improving and invigorating this well-known and loved destination.
“This in no way affects the gifting of Cathedral Cove to the Crown by the family in 1972, and they will remain committed to the area through their own personal ties.”
Warren Hutt says that the resort operates as a successful holiday and tourist business for more than 50 years.
“Forward bookings have been received beyond 2015 and the financial statements indicate the business has a healthy profit and should continue to do so. Whatever the new owner chooses to do, any sale and purchase agreement is being structured to keep the resort operating until May next year at the earliest.”
Hutt adds that site’s current zoning and structure plan provide an opportunity for further enhancement to cash flows through the potential for subdivision and the opportunity for future development of conference facilities and additional villa accommodation.
“The structure plan is specifically designed to provide a greater level of flexibility for the development of visitor accommodation and associated facilities,” he says. “For these reasons, and because of the resort’s stellar location, we are already fielding interest from a wide range of buyers in New Zealand and overseas, including high net worth individuals and people interested in exploring the potential of the structure plan that has been put in place to provide flexibility in the use and future development of the resort.”
“Opportunities of this scale, with its outstanding beachfront location and strong cash flow, are rare and highly sought after in the New Zealand market. The scarcity of such prime coastal property in New Zealand means that it will soon become a priceless investment, and the opportunity for the transfer of ownership for the first time in over half a century is now open for all visionaries.”
The property comprises 6.79 hectares of freehold land treated as one but split over two freehold titles.
The property offers 438 metres of beach frontage, behind which Hahei Holiday Resort currently offers visitors the opportunity to stay in newly-built beachfront bungalows, villas, studios or in more cost-effective cabin motels or to relive the kiwi summer dream in numerous camping and caravan sites.
In addition to accommodation, the resort provides facilities and infrastructural improvements include bore water supply. Electric, LPG and diesel boilers for hot water supply and a sealed internal road network. Upgraded fast broadband has been newly installed in Hahei.
“With its huge frontage to the white sandy beach, Hahei Holiday Resort is an idyllic and hugely popular Coromandel beachfront property,” says Bedford. “The entire property is predominantly flat, with a gentle slope towards the east and elevation to the northern boundary towards the beach and sand dunes. The eastern boundary of the property fronts directly onto the Wigmore Stream, with an esplanade reserve separating part of the property from the stream.
“The park-like setting is enhanced with numerous trees throughout the resort and mature Pohutukawa trees running the length of the Wigmore Stream on the southern boundary, providing shelter and shade for campers over the summer months.”
Situated on the eastern seaboard of the Coromandel Peninsula in New Zealand’s North Island southeast of Whitianga between Cooks Beach and Hot Water Beach, the property is easily accessible from Auckland.
“Hahei is a well-known and loved destination for both domestic and overseas travellers and is an easy drive of just over 2 hours from Auckland,” says Hutt.
“Hahei village is only 500 metres away from the resort and offers a popular mix of art galleries, tourist shops, convenience retail, cafés, restaurants and a local brewery. The central location of Hahei on the Coromandel Peninsula makes the area appealing to the tens of thousands of tourists who visit each year to experience the neighbouring world-renowned Cathedral Cove and nearby Hot Water Beach, plus the many magnificent boating, diving and fishing activities on offer.
“The sea life and crystal clear water of the stunning marine reserve are popular with scuba divers and tourist operators running glass bottom boat and kayaking tours to Cathedral Cove. In addition, Hot Water Beach, with its extraordinary, geothermally-heated water in the sand at low tide, is only six kilometres to the south. Both destinations are popular with domestic and overseas tourists, with reported visits reaching approximately 150,000 each year.”
Hutt adds that Whitianga township and marina is also close by. “Whitianga provides a full range of services and facilities which support the Coromandel population of approximately 27,000 people – which swells to approximately 120,000 over the summer months.”
“One of the reasons that the Coromandel - and Hahei Holiday Resort - are such consistent draw cards is that the Coromandel Peninsula is centred on a range of mountains which protects the eastern coast from the prevailing south westerly winds. Because of this, Hahei enjoys a more temperate climate in comparison with many areas in the North Island.”
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.