Travelodge Wellington

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Property Id : 31343
Price: 19,000,000 NZD
Rooms: 132
Sold for 19,000,000 NZD Rooms: 132
Price Per Room: 143,939 NZD

Travelodge Hotel Wellington is a modern 132 room 4 star Qualmark rated hotel located in the centre of the Wellington CBD. The Hotel originally formed part of the Plimmer complex, which occupies a prominent site at the intersection of Boulcott Street and Gilmer Terrace, comprising a multi-story commercial office tower and 662 bay car park building. However the property was subdivided by way of a volumetric freehold title and the hotel, office and carpark buildings sold to separate entities.

The Hotel, which sits on top of a six level retail building (forming part of the commercial office tower), was originally constructed in 1986 with 94 guest rooms, and underwent a $11 million retrofit in 2008/09, with an additional 38 guest rooms added. Other amenities include conferencing facilities, restaurant, bar, and back of house facilities.

The Hotel was sold subject to a new management agreement to TFE Hotels for a period of 10 years. Termination is available after year 5, with compensation payable to the operator should the termination provision be exercised.

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Dean Humphries

National Director - Hotels New Zealand
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