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Historic Hotel Offers Regal Returns in Carrot Capital

The oldest hotel, including land, buildings and business, still operating in the Ruapehu District, is being offered for sale as summer attractions draw more visitors to the Central Plateau.

Built in 1913, Kings Ohakune occupies 3,036sq m (more or less) of freehold land at 3 Rimu Street, three kilometres from the main arterial linking State Highways 1 and 4.

Bayleys salesperson Antony Greenfield says Kings Ohakune operates as a local hospitality hub, providing year-round accommodation and bar and restaurant facilities with solid patronage.

“Proximity to ski fields at Whakapapa and Tūroa make Kings a logical venue for the busy ski season. However, visitation has really picked up during the warmer months as hiking, mountain biking and kayaking the nearby Mangawhero River rise in popularity.

“The region is ideal for adventure seekers, being a thriving year-round recreational destination. The chance to acquire a significant landholding, with its established business, provides investors with a fantastic opportunity to secure a slice of Central Plateau history.

“Kings offers add-value potential, particularly given substantial local investment and the impending completion of new leisure facilities,” he says.

Greenfield is marketing the property for sale as a freehold going concern with Bayleys colleagues Amie Rowan and John Bartley via tender, closing at 2:00 pm on Wednesday, 13th March 2024 (unless sold prior).

The buildings of Kings Ohakune total 1,490sq m (more or less) with guest accommodation comprising 25 ensuite rooms, including two with disabled access.

There are also 15 rooms on the first floor with a shared kitchen, laundry and leisure facilities.

Bayleys salesperson Amie Rowan says that upstairs rooms are presently used to accommodate Kings employees and mountain staff during the winter.

“Local mountain companies have previously contracted Kings to accommodate seasonal workers. While this may be an option for the new owner to explore, full utilisation of the premises to paying visitors would provide an income upside.

“Additionally, the restaurant seats 60 diners, and the bar features the biggest dancefloor in Ohakune with provision to be split into two separate areas, accommodating up to 300 people comfortably for functions and events.

“It’s served as the backdrop for several weddings, with the potential to increase business scope as a full-service wedding and events venue providing guest accommodation, ceremony facilities and a fully catered reception.

“There is additional room for improvement and the chance to raise profitability with add-value works and renovation,” she says.

On the northeast edge of Ohakune, just off State Highway 49, Kings features mountain views of the Tongariro National Park, Whanganui National Park, and nearby ski fields.

Bayleys Whanganui director John Bartley says the hotel is highly visible and proximate to the Ohakune train station, a Northern Explorer rail line stop.

“Local festivals, including Mardi Gras, the Blues and Roots Festival, and Carrot Carnival, draw visitors throughout the year, in addition to a host of adventure events and seasonal sporting activities.

“In 2024, the 21-kilometre Te Ara Mangawhero ecotourism trail – one of 22 ‘Great Rides’ across New Zealand and part of the Mountains to Sea hiking/cycling journey - is set to connect Tūroa and Ohakune, bringing even more tourists to the area.”

More than 100,000 people undertake the nearby Great Walk, the Tongariro Alpine Crossing each year, with estimates showing 40,000 ride the Old Coach Road rail trail and 500,000 visit Mount Ruapehu.

“Granted a 3-star Qualmark Silver rating, the business is in great shape, offering a new operator an attractive opportunity to realise its full potential just as the local hospitality industry takes off. Similarly, investors will find value in the large and prominent site with significant future development potential.”

Click here for more information on the listing.

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