Picton CBD lodge site offers multiple options

A Picton High Street property that established its name as a highly rated visitor lodge is for sale with versatile options to refurbish, reposition or redevelop.

Established lodge in central Picton

Currently operating as Piwaka Lodge, the more than 1,100-square-metre site sits at a high-profile location close to Picton’s waterfront and ferry terminals, nestled in the town centre amongst retail and hospitality offerings.

Fourteen guest rooms and manager’s residence

The lodge has been equipped to accommodate up to 48 guests, with 14 guest rooms, shared kitchen and lounge facilities, and a separate two-bedroom manager’s residence. This property is to be sold ‘As is, where is’.

Refurbishment, repositioning or redevelopment options

Bayleys salesperson Michael Ryan says the property has the scale and flexibility for new owners to consider a range of possibilities.

“Occupying a substantial landholding on High Street, this prominent centrally located property presents an exciting opportunity for developers, investors and accommodation operators looking to secure a strategic position in one of New Zealand's key tourism gateways.

“With redevelopment of the Picton ferry terminal precinct underway, there’s an opportunity to explore repositioning it as workforce accommodation, to pursue other tourism uses, or to redevelop the site for a variety of potential future activities, subject to necessary approvals.

“Alternatively, buyers may eye this strategic landholding as a long-term land banking opportunity in the geographical centre of New Zealand’s transport and tourism network,” says Ryan.

Picton property heads to auction

The freehold land and buildings at 75 High Street, Picton, are being marketed for sale by Ryan and colleague Wade Cornelius, of Bayleys Marlborough.

The site will go under the hammer at an auction on Thursday 3 December.

More than 1,100sqm of freehold land

The approximately 585-square-metre building is underpinned by a landholding of some 1,138 square metres. The late 1980s-built property has an Initial Evaluation Procedure seismic rating of 70 percent of new building standard.

The site includes parking for eight vehicles, with further parking available in a public car park next door.

Business 1 zoning supports varied uses

Cornelius says Business 1 zoning under the Marlborough District Plan provides for visitor and residential accommodation as permitted uses, plus a variety of commercial and service activities.

High-profile dual frontage near transport links

“Future activities and long-term value are underpinned by the profile afforded by prominent dual frontages to High Street and Auckland Street, which doubles as State Highway 1, plus a central location with excellent access for residents, visitors, and the local workforce.

“Directly opposite Marina Mall, with its supermarket and surrounding retail amenities, the property is handy to Picton's town centre, waterfront and transport connections including interisland ferries and the main highway south.

“Local businesses, service and accommodation providers enjoy consistent year-round demand thanks to Picton’s position as a vital hub with hundreds of thousands of visitors a year including a constant flow of travellers crossing Cook Strait,” Cornelius says.