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Apartments At St Clair Majestic Mansions Dunedin NZ For Sale

Dunedin, Otago
Asking Price:
$2,390,000 (NZD)
Sales Revenue:
Available on request
Cash Flow:
Available on request

Apartments at St Clair are located in the stunning and iconic Majestic Mansions building in St Clair.

This is an exceptional opportunity for an experienced hotel operator to own the freehold land & buildings, continue to grow the business while being able to live in the popular sea side suburb of St Clair.

The Apartments at St Clair are set just one street back from the beach, providing affordable accommodation for short to medium stays and is the perfect central city alternative for guests with the spectacular surf beach, cafes, restaurants and the salt water pools right on your doorstep. It is only 7 minutes from Dunedin’s CBD and is the gateway to the Otago Peninsula. Majestic Mansions was built in the 1920s and has approximately 880m2 of floor area set on a 668m2 site.

There are a total of 12 of apartments with 8 x One Bedroom Apartments each having a separate kitchen, lounge, bathroom and bedroom with a queen sized bed and 4 x Two Bedroom Apartments each having the addition of a small second bedroom with two single beds. All apartments have either courtyard, city or sea views and 8 garages are available for car parking.

Managers/ Owners onsite Accommodation: Currently one of the 8 One Bedroom Apartments is used as the Managers apartment within the complex.

Broker's comments:?

This is a lot of land, buildings and business chattels and goodwill for the money. Seldom do you see in the tourism accommodation sector offering such prime real estate and sustainable profitable trading results.

?We welcome your enquiry, please contact the specialist Accommodation Business Broker, Adrian Chisholm, AREINZ by completing the "Contact Broker" form.

About Dunedin:

Dunedin is best known for its picturesque harbour setting, lively student population and Scottish heritage. It's the second largest city in the South Island, is considered one of the country's four main centres for its colonial history and prominence within the Otago region and the South Island with the city population at 5 March 2013 was 120,246. Dunedin is surrounded by dramatic hills and at the foot of a long, picturesque harbour, Dunedin is one of the best-preserved Victorian and Edwardian cities in the Southern Hemisphere.

Tourism - Dunedin attracts about 2 million visitors annually, with New Zealanders making up the majority of the numbers. There is an average of 5500 visitors daily, many of whom have made the trip south to see Dunedin’s renowned wildlife and heritage for themselves. A growing part of this sector is the cruise ship industry, with 84 ship visits bringing 200,000 visitors during the 2011/12 season.

Otago Peninsula - the views are endless and the beaches are beautifully rugged. Nestled at the foot of Taiaroa Head is the Royal Albatross Centre, the only place in the world on the mainland where you can view Northern Royal Albatross in their natural habitat. On Dunedin’s doorstep you will also find incredible wildlife including the world’s rarest penguin colonies.

University city - The city's largest industry is tertiary education – Dunedin is home to the University of Otago, New Zealand's first university (established 1869), and the Otago Polytechnic. Students account for a large proportion of the population; 21.6 percent of the city's population was aged between 15 and 24 at the 2006 census, compared to the New Zealand average of 14.2 percent.

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