Located in the heart of the Wellington CBD, this popular 132 room 4-star Qualmark rated hotel is ideally located only a short walk from the Lambton Quay retail precinct and within close proximity to all of the City’s key demand drivers including the Government and Commercial Precincts, Westpac Stadium, major transport hubs and the Wellington Convention Centre (Tākina), which is due to open in 2023.
View the virtual tour below:
Modern Hotel with Strategic Downtown CBD Location
The Travelodge is located in the epicentre of the Wellington CBD in close proximity to all of Wellington’s key demand drivers including Parliament & Government departments, TSB Bank Arena, Westpac Stadium, Te Papa and the soon to be completed Wellington Convention Centre (Tākina). Hotel assets located in downtown Wellington are tightly held and rarely come to the market, providing an opportunity to purchase a hotel in an exceptional location in the heart of the CBD.
Availability of Vacant Possession with Value Add & Alternative Uses
Ability for new owner to terminate the existing management agreement on sale, an attractive proposition for investors, owner-operators or developers looking to reposition the asset. A number of value-add & alternative uses include student accommodation, budget accommodation, extended stay serviced apartments, built to rent (BTR), and affordable housing.
Take advantage of Wellington’s strong market fundamentals
Wellington is the capital of New Zealand and the country’s second-largest city. It is the political centre housing parliament and head offices of all Government Ministries and Departments and major institutions. It is also highly regarded as a hub for the film industry and also home to Te Papa, Victoria University, Westpac Stadium and the new Wellington Convention Centre which opens in 2023. The city has always been popular with hotel investors due to its robust and stable trading performance and lower reliance on international visitation. With just one hotel under construction, we see Wellington undergoing a swift recovery post-Covid-19.
Invest in a safe & trusted property market
New Zealand continues to be a highly attractive investment destination due to its transparent legal system, geopolitical status and strong relationships with leading global economies. New Zealand is widely perceived as a safe investment destination and the absence of stamp duty, land or capital gains tax further creates an attractive investment environment.
For sale via expressions of interest, closing Thursday 9th June 2022 at 4:00pm (NZST).