SITE FOR DUAL-BRANDED HOTEL FINALLY SOLD

EVEN Auckland Hotel artist impression

The Auckland-CBD site which the New Zealand Herald used for over 150 years has sold for $31 million.

Mansons TCLM sold the land to Australian company Pro-Invest for the value of $28,181 per sqm, who will convert the site to a 490-room dual-branded hotel.

“While the sale agreement was negotiated last year, the settlement was contingent on the issuing of a new standalone title for the land which Pro-Invest has purchased. This will now allow them to proceed with the construction of the hotel,” said Bayleys senior broker Paul Hain, who negotiated the sale with Nick Thompson, director of hotels.

Reaching 37 levels high, the 22,500 sqm hotel will be developed on the corner of Wyndham and Albert St in the Auckland CBD.

The joint operation will host a 290-room Holiday Inn hotel on the lower levels and a 200-room EVEN hotel on the upper levels, which Pro-Invest will develop, own and manage under a franchise agreement with IHG.

The EVEN Hotel Auckland is the first outside of North America. Pro-Invest plans to expand the EVEN portfolio to 10 to 15 hotels in Australasia.

The joint operation will host a 290-room Holiday Inn hotel on the lower levels and a 200-room EVEN hotel on the upper levels, which Pro-Invest will develop, own and manage under a franchise agreement with IHG. The EVEN Hotel Auckland is the chain’s first property outside of North America. Pro-Invest plans to expand the EVEN portfolio to 10 to 15 hotels in Australasia.