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Is This The World's Only Penguin Hotel? For Sale

Oamaru, Otago
Freehold Price:
$1,600,000 (NZD)
Lease Asking Price:
$1,600,000 (NZD)
Sales Revenue:
Under $100K (NZD)
Cash Flow:
Under $50K (NZD)

Is this the World's only Penguin Hotel?

Not yet... but this particular building is very special!

Occupying a prominent position in the busy Victorian precinct adjacent to the sheltered Oamaru Harbour, this is one of the only significant quality heritage buildings in the area that is still in private ownership.

The current owners of 24yrs are now seeking to retire and have reluctantly decided to offer their pride and joy for sale.

However the building still remains ‘home’ to several families of the Oamaru’s famous Blue Penguins, who nest under the floor.

Imagine if this historic building was to be developed into a boutique hotel and/or retail showcase, featuring 'glass' panels in the floor, so that visitors could enjoy discreetly viewing the penguins that also reside there! And with the many features of the original woolstore - such as the belt conveyor - still in place, there are endless opportunities for an owner with vision to create a truly special and unique experience for their guests!

Known locally as ‘The Woolstore Complex’ this beautiful building was built in 1881 by two prominent Oamaru Grain & Seed Merchants. Constructed of locally quarried limestone, in the elaborate Neo-Classical style, the building was designed by the busiest local architects of the time Forrester & Lemon.

In 1889 the ‘National Mortgage & Agency Co’ bought the building, and when ‘National Mortgage’ merged with ‘Wright Stephensons’ the firm became known as ‘Wrightsons NMA Ltd’. The name changed again to Wrightsons Grain & Seeds when the building was converted to take bulk grain.

It remained as such until 1987 when W.D. Forsyth Ltd (Woolbuyers) bought the building, once again to be used for the storage of wool.

Now, after extensive and careful restoration, The Woolstore complex currently features:

A Cafe
A gift shop
A Portrait studio
A motoring museum on the ground floor
Galleries on the expansive upper floor - The vistas and views are unrivalled.
With a floor area of approx. 2,370m2 (source: QV.co.nz) and multiple entrances, there is ample scope for tasteful redevelopment. It is easy to imagine this as upmarket ‘inner-city-living’, or perhaps quality hotel accommodation, combined with showcase retail (all subject to local body consents and approval).

What is needed here is a very special new owner, who has the vision and means to transform this unique building into something truly captivating and rare, one that can combine the delight of both the human guests, and the very special local residents, the Little Blue Penguins.

PLEASE NOTE: It is the building only for sale | The existing businesses and leasehold land are excluded.

Property information

Real Estate:

Available as lease or with real property included

Location:

Occupying a prominent position in the busy Victorian precinct adjacent to the sheltered Oamaru Harbour. Oamaru is the largest town of the Waitaki District - Otago (New Zealand). With one of the country’s oldest public gardens, renowned Victorian architecture, two penguin colonies, a rich heritage, first-class dining establishments, a craft brewery in front of the harbour, numerous golf courses, walking and cycling trails and a whole lot more...

Premises Details:

With a floor area of approx. 2,370m2 (source: QV.co.nz) and multiple entrances there is ample scope for tasteful redevelopment. It is easy to imagine this as upmarket ‘inner-city-living’ or perhaps quality hotel accommodation combined with top notch retail (all subject to local body approval). What is needed is a buyer who has the vision and means to transform this building into something truly special.

Planning Consent:

Local Body approval/consent required for further development

Business Operation

Expansion Potential:

With a floor area of approx. 2,370m2 (source: QV.co.nz) and multiple entrances there is ample scope for tasteful redevelopment. It is easy to imagine this as upmarket ‘inner-city-living’ or perhaps quality hotel accommodation combined with top notch retail (all subject to local body approval). What is needed is a buyer who has the vision and means to transform this building into something truly special.

Reasons for selling:

The current owners of 24yrs are now seeking to retire and have reluctantly decided to offer their pride and joy for sale.

Other Information

Website:
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Lease asking price:
$1,600,000 (NZD)

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