3 Scotia Place, Auckland Central Hotel investment with new 10-year lease

Available PropertyFiles:

  • 2056 - 5 Scotia Place - ISA - Reduced Size.pdf
  • IM 3-5 Scotia Place.pdf
  • PropertyFiles.zip
  • Scotia Occupancy Details Feb 25.pdf
  • Scotia Place 5_Record of Title 113979_19.03.2025.pdf
  • Scotia Place 5_Record of Title 113980_21.02.2025.pdf
  • Scotia financials summarised 19 March 2025 final.pdf
  • Scotia revenue performance 19 march 2025 final.pdf
  • Scotia structural report Earthquake rating.pdf
  • Valuation by JLL in Jan 23 Value $ 18 Mn.pdf

Property Description

Key features:
• 82 room hotel with high occupancy
• New 10-year lease returning $1,260,000 per annum - circa 7% return
• Managed by VR Group
• Freehold land 810sqm
• 3,296sqm GFA (approx.) over 11 levels, plus 15 car parks
• A+ IEP Report
• Ideal CBD location just off Queen Street

Ascotia Off Queen is a medium rise 3.0 - 3.5 star hotel offering 82 hotel rooms over nine levels plus ground floor reception, restaurant, two basement floors and 15 car parks. The hotel provides mid-range accommodation at very affordable rates, ensuring high occupancy levels are achieved.

The hotel is ideally situated just off Queen Street, a short walk to the Aotea Square entertainment precinct and the restaurants of Karangahape Road. The area is set to benefit from the completion of the City Rail Link with both the Aotea Station and Karangahape Station close by.

The property is managed by VR Group, a very experienced hotel operator with multiple hotels throughout Auckland. There is a new 10-year lease in place returning $1,260,000 per annum with biannual 3% fixed rental increases.

Ascotia Off Queen provides purchasers with an excellent opportunity to secure a well-performing hotel in the CBD under strong management, providing an outstanding long-term return (circa 7%) with built-in growth.

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Contact Tony Chaudhary

Bayleys Real Estate Limited, Manukau

Licensed under the REA Act 2008

021995121   tony.chaudhary@bayleys.co.nz   All Listings

Tony Chaudhary’s proven strategies for attaining outstanding results for his commercial property clients have seen him rise through the ranks of Bayleys since joining the group 15 years ago. Tony has ranked amongst the company’s Top 5% of agents nationwide every year since joining Bayleys and he was awarded the esteemed title of No 1 Commercial Agent, New Zealand in 2020/2021.

Specialising in the South/East Auckland commercial property sales market, Tony’s expertise is also regularly called upon by his clients throughout the Auckland market as they recognise the value he can add to the real estate table.

Regularly dealing with individual property owners, corporate clients, high-profile national retail groups, and key international property clients, Tony’s business has grown exponentially on the back of repeat and referral business, record sales prices, a changing market, and clever solutions to his clients’ property challenges.

It is no surprise due to the continuing growth of the business that Tony is now supported by Janak Darji, Gaurav Minhas and Manu Pundir who each bring their own wealth of knowledge and expertise to the team. Tony’s proficiency in Hindi, Punjabi, and English, plus an understanding of Gujarati, allow him to gain people’s confidence and give him the edge in negotiations. Janak also speaks Gujarati and Gaurav also speaks Punjabi, Hindi and Fiji-Hindi.

Tony Chaudhary and his team efficiently services a growing national and international client base which values their diligent work, intelligent marketing strategies and proven negotiation skills that Tony has consolidated. Tony and the team invest significant time and energy to ensure that every avenue is pursued to find the right buyer for each property he is entrusted to market.

Deeply established in the Auckland commercial property market, Tony and his team, together with the reputable Bayleys brand, delivers exceptional real estate service to discerning property owners keen to realise true market value in the competitive marketplace.