7th August 2023 By Staff Reporter | news@tourismticker.com | @tourismticker
Auckland’s 244-room Nesuto Stadium Hotel and Apartments is up for sale.
The asset is subject to a long-term ground lease to the Ngāti Whātua Ōrākei Maori Trust Board, with a secure tenure of approximately 123 years remaining. The hotel is operated under the Netsuto brand under a management lease, with a landlord-favourable turnover rent structure.
Expressions of interest for the property close on 24 August and should be made to CBRE Hotels agents Michael Simpson and Wayne Bunz, and Warren Hutt from CBRE New Zealand.
“The scale of this opportunity combined with Auckland’s hotel and tourism market recovery is expected to underpin high levels of buyer interest from both domestic and international capital sources,” said Simpson.
The hotel was previously offered to market in April 2022 by Colliers.
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