Big interest in sale of 162-year-old hotel

Interest has been high in the Cardrona Hotel. PHOTO: SUPPLIED
Interest has been high in the Cardrona Hotel. PHOTO: SUPPLIED
The listing for the iconic Cardrona Hotel has been the third-most viewed property on Trade Me this year as the sale comes to an end on Friday.

The 162-year-old hotel and restaurant located between Wānaka and Queenstown went on the market over a month ago and has had over 130,000 views on Trade Me.

A spokesperson for the auction site said this was the third-highest number of views they had seen all year right behind Christchurch’s Ark House and Paul Henry’s mansion in Auckland.

Cardrona Hotel owners Cade and Alexis Thornton said they had narrowed their discussions down to eight groups, after receiving interested buyers from New Zealand, Australia, the United States and Singapore.

"Each group are fantastic operators with a background in hospitality or hotels," Ms Thornton said.

"Alexis and I are confident that we’ll find a highly skilled and experienced publican who will do great things for the hotel."

Trade Me Property spokeswoman Casey Wylde previously said although it would be difficult to estimate the price the hotel would be sold for, it was expected to sell for more than the average asking price in Wānaka, which was $1,558,950 last month.

PHOTO: SUPPLIED
PHOTO: SUPPLIED
Trade Me property customer director Gavin Lloyd said given the hotel has proved to be such a landmark, it would be hard to put a potential price tag on it.

"Its charm, history and stunning location are undoubtedly driving its popularity.

"The Cardrona Hotel is more than just a property, it’s an opportunity to own a much-loved and recognised Kiwi icon."

There has also been strong interest from global media, with the Cardrona Hotel appearing in the news around the world, from Australia to Iceland.

"It has been really nice to see that almost all the interested parties already have an emotional connection to the hotel and have visited or stayed with us in the past," Mr Thornton said.

Expressions of interest for the sale of the freehold going concern close at 4pm on Friday.

rawan.saadi@odt.co.nz