Newmarket accommodation asset for sale

The land, buildings, business and chattels of a prominent serviced accommodation provider in one of Auckland’s most strategically positioned urban precincts are being offered to market, presenting investors with the opportunity to acquire both freehold real estate and an established hospitality business in a location defined by resilient, year-round demand.

Bayleys Hotels, Tourism and Leisure senior director, Paul Dixon, together with colleagues Eddie Rizarri and Wayne Keene, are marketing the 22-room Haven Newmarket Suites at 104-106 Great South Road for sale as a freehold going concern by negotiation.

Occupying a 1,575sqm (more or less) site on one of Auckland’s primary arterials, the recently refurbished complex comprises 21 studio units and a four-bedroom apartment, configured to accommodate guests ranging from corporate travellers to extended-stay medical visitors.

Dixon says the opportunity will appeal to buyers seeking immediate income supported by long-term structural growth drivers.

“Unlike accommodation assets reliant on seasonal tourism cycles, the property benefits from a layered demand profile, anchored by Newmarket’s unique convergence of retail, healthcare, education and commercial activity.

“Newmarket is effectively Auckland’s second CBD – but with a different economic engine,” he says. “Demand here comes from hospitals, universities, corporate headquarters, retail visitors and domestic travel, creating a valuable depth of occupancy.”

The precinct sits adjacent to the region’s largest healthcare cluster, including Auckland City Hospital, Starship Children’s Hospital, and the Greenlane Clinical Centre, generating steady visitation from patients’ families, medical professionals, researchers and suppliers – a segment typically less sensitive to economic cycles or seasonality.

Education institutions, including the University of Auckland’s Grafton Campus, AUT facilities and leading secondary schools, provide an additional stream of visiting academics, conference attendees and international families, while Newmarket’s status as the country’s premier retail destination sustains leisure travel throughout the year.

Bayleys Hotel, Tourism and Leisure broker Eddie Rizarri says the property’s position on Great South Road places guests within walking distance of Broadway’s retail spine and Westfield Newmarket, while Newmarket Station – one of Auckland’s busiest rail interchanges – provides rapid access across the metropolitan network.

Completion of the City Rail Link is expected to further enhance connectivity, effectively shrinking travel times to the CBD and expanding the precinct’s catchment.

“Beyond its operational performance, the offering provides exposure to a landholding in a desirable city-fringe location where freehold sites are rarely traded. Zoned Business – Mixed Use, the property allows for a broad range of commercial and residential activities, reinforcing long-term adaptability.”

Rizarri says scope exists to enhance performance through refreshed branding, targeted offshore marketing, improved yield management and selective capital upgrades, particularly as international travel continues to rise and visitor arrivals strengthen from Australia, Asia, Europe and North America.

“For international capital, the asset offers a foothold in New Zealand’s primary gateway city and tourism sector, while domestic investors may view it as a strategic hold within a suburb undergoing sustained intensification and infrastructure investment.

“More broadly, Auckland’s accommodation market is benefitting from the return to international tourism alongside strong domestic travel and business activity. Government and private investment in aviation, events and urban development continues to reinforce the city’s role as the country’s principal entry point for visitors.

“Additionally, Newmarket’s diversified economic base and premium amenity profile position it as one of the most defensible locations for boutique accommodation operations.

“The Haven Newmarket Suites therefore represents not just a trading business, but a durable urban asset with multiple pathways for future growth – whether through operational refinement, repositioning or long-term land value appreciation in a precinct where competing supply is constrained.”