BIGGEST HOTEL SALE IN 12 YEARS

Waldorf Stadium Hotel

The Waldorf Stadium Apartment Hotel has been sold in what is the city’s largest hotel transaction in 12 years.

“It’s the largest hotel transaction in Auckland in 12 years since the Carlton on Mayoral Drive sold for NZ$113 million in late 2016,” said Dean Humphries, national director of hotels, Colliers International.

Colliers International and CBRE brokered the sale of the 178-unit property to Australian-based Mulpha Group for an undisclosed sum.

“In terms of the Waldorf Stadium Hotel, we were attracted to its position in a key gateway city, strategic location in the heart of the Auckland CBD, together with several strategic opportunities to add additional value to this asset over the short to medium term working in conjunction with the hotel operator Daiwa House group,” said Greg Shaw, CEO, Mulpha.