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Tourism resort development with landscaped golf course teed-up for sale

Tags: Commercial

A substantial block of land zoned for the creation of a high-end resort hotel or retirement village – complete with one of New Zealand’s foremost landscaped golf courses – has been placed on the market for sale.

The 75.9-hectare property for sale at Pauanui on the eastern side of the Coromandel Peninsula encompasses:

• A 1.99 hectare block of development land zoned for the creation of a 120 room or 270 bed accommodation facility with approved Resource Consent in place – defined as either a hotel, retirement village, lodge, golfing academy or apartment block.

• The 18-hole Lakes Resort Pauanui Golf Course which plays off 6,171 metres from the championship tees

• The two-storey 1,858 square metre golf course facility – including bar/restaurant and dining area/conference centre , as well as the pro’ shop, toilets and showers amenities, with the administration offices and garage storage for 30 motorised carts on the lower level and

• A 736 square metre greenkeepers complex used for the storage of all landscaping and turf management equipment and machinery.

The land, buildings and business sustaining the Lakes Resort Pauanui Golf Course, along with the adjacent consented greenfield development block, are being jointly marketed for sale by international tender through Bayleys Auckland and Bayleys Thames, with tenders closing on February 28, 2018.

Salespeople David Bayley and Geoff Graham said the property at 100 Augusta Drive was zoned for rural use under the Thames Coromandel District Council’s plan. The golf course is located some four kilometres from one of the Coromandel’s most popular beach destinations in the township of Pauanui.

Numerous current resource consents have allowed for the commercialization and land-use intensification of the property in which the Lakes Resort Pauanui Golf Course is located.

Sitting in a valley surrounded by forest-covered hills, the Lakes Resort Pauanui golf course was designed by Canadian Grant Piddicombe and opened in 2004. Man-made wetland and lake hazards throughout the Lakes Resort Pauanui Golf Course acts as a natural habitat for many indigenous bird species.

The impressive Lakes Resort Pauanui facility features an expansive open plan floor space, courtyard, and covered terraced decking, overlooking the ninth fairway and green along with the 18th green and fairway. The general dining/socialising area is serviced by a licensed bar and a large fully equipped commercial kitchen.

“Positioned at the foot of tree-clad hills, delivering wide vistas over the golf course, the dual-level facility with its indoor-outdoor flow is one of the most imposing structures of its type on any course in New Zealand,” Mr Bayley said.

The ‘greenfield’ development block of land is an elongated site on an elevated position overlooking the entire golf course and is situated some 200 metres from the existing restaurant, bar and pro-shop. The block sits immediately alongside the entrance road to the course and existing residential gated community.

Mr Bayley said concept plans for the accommodation amenity featured multiple low-rise buildings which could be configured to multiple different target markets depending on their end-use

“The development opportunity for a tourism and hospitality venture is obviously underpinned by Pauanui’s geographic location on the fringe of New Zealand’s economic and population ‘Golden Triangle’ – linking up Auckland, Hamilton and Tauranga,” Mr Bayley said.

“The potential development of ancillary eco’ attractions – operating in conjunction with the existing golf course resort – would create a true ‘destination’ entity. For example, within the 75.9 hectare block there are numerous bush tracks suitable for both expanding existing walkway tracks and adding mountain biking trails.

“Such an all-inclusive destination could then tap more into the corporate markets within the Golden Triangle, and simultaneously increase the marketing opportunity to both the free-independent and organised international visitor sectors.”

Mr Graham said the course is operating on several favourable water irrigation permits issued through the Thames Coromandel District Council.

“The course is permitted to extract up to 900 cubic metres of irrigation water daily from a tributary creek running through the property. A separate permit allows for the damming and diversion of three other tributaries on the property to draw irrigation water for the greens and fairways from its many lakes,” Mr Graham said.

“Lakes Resort Pauanui has been designed around these tributary creeks to create natural lateral hazards which have found the ball from many a golfers stray hook or slice. The course is regarded by many golfers to be among the top 20 golf courses in New Zealand and represents exceptionally good value for players when compared to the likes of Cape Kidnappers, Kauri Cliffs, Wairakei, Jack’s Point or The Hills.

“Several stone and wooden bridges have been built over these tributaries to provide a beautiful aspect to the course’s natural landscape, terrain, and surrounding hillside features. A substantial elevated boardwalk between the fourth and fifth holes over an ecological wetland area also pays credence to the course’s environmental sensibilities.”

A gated residential enclave of over 150 properties is located beside the course overlooking several of the lakes and holes. Mr Graham said the residential component of Pauanui Lakes Resort was not part of the land offering for sale. However the Lakes Resort had commercial arrangements in place with several dwelling owners to lease their premises when golfing tournaments and events were being hosted.

“Obviously, accommodation is the final piece of any vertically-integrated large-scale destination tourism jigsaw. Pauanui Lakes Resort already has the activity attractions, the food and beverage offerings, and the conference/function venue amenity,” Mr Graham said.

“With accommodation currently being outsourced, the development of a Hotel or Lodge would complete the existing picture. Any facility offering the capacity to sleep some 270 guests would open up the door to target far bigger markets than those currently available.”

Figures from Statistics New Zealand show the number of in-bound international ‘golf tourists’ rose 23 percent to the year ending April 2016, compared to the same period a year before. Concurrently, spending in New Zealand by international ‘golf tourists’ rose by 18 percent over the same period.

The Statistics New Zealand figures also highlight that international ‘golf tourists’ stay an average of 27 nights in New Zealand - compared to an average of 16 nights stay for mainstream international visitors. The tourism data spotlights that the bulk of ‘golfing tourists’ playing New Zealand courses emanate from Australia, China, the United Kingdom and the USA.

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