Award-winning luxury resort for sale expected to fetch $25m

7th February 2024 By Staff Reporter | news@tourismticker.com | @tourismticker

The luxury Lakeside Spa & Resort in Waikato is up for sale and expected to fetch around $25m, says Sotheby’s.

The 35.4ha property located at 987-1002 Tirau Road near Lake Karapiro in Cambridge is 50% owned by Lakeside Hospitality Limited, which is controlled by Wellington’s well-known Muollo family. Jolene and Daniel Kajavala own the remainder of the resort.

The property includes 45 standalone chalets and a main complex, health and wellness facilities such as a 20-metre heated indoor swimming pool, conference facilities and a restaurant. Rooms at the chalets start from $550 per night.

“We expect interest to come from both national and international buyers,” said New Zealand Sotheby’s International Realty principal Marcus Blum.

“Complete turnkey 5-star resort complexes located in one of New Zealand’s fastest-growing tourism hotspots makes Lakeside Spa and Resort an extremely attractive proposition.”

Sotheby’s said there were opportunities for scale and expansion as some adjoining land holdings were also for sale.

In April 2023, the resort’s name was changed from Resolution Retreats to Lakeside Health and Wellness Resort.

Resolution Retreats was named New Zealand’s Best Wellness Retreat at the World Spa Awards in 2020, 2022, and 2023.

Tenders for the property close at 4pm, 21 March unless sold prior.