Historic Cardrona Hotel Attracts Global Interest in Sale

The 162-year-old Cardrona Hotel, located between Wānaka and Queenstown, has sparked significant interest since it was listed for sale over a month ago. The listing on Trade Me has garnered over 130,000 views, making it one of the most viewed properties on the platform this year, trailing only behind two high-profile listings in Christchurch and Auckland.

According to a spokesperson for Trade Me, the hotel’s unique charm and historical significance have contributed to its popularity. Cade and Alexis Thornton, the current owners, have narrowed down their discussions to eight potential buyers from various regions, including New Zealand, Australia, the United States, and Singapore. “Each group are fantastic operators with a background in hospitality or hotels,” Ms. Thornton stated. She expressed confidence in finding a skilled publican who will enhance the hotel’s legacy.

The anticipated sale price remains uncertain, but it is expected to exceed the average asking price in Wānaka, which was $1,558,950 last month. Casey Wylde, a spokeswoman for Trade Me Property, highlighted the hotel’s appeal, stating, “Its charm, history and stunning location are undoubtedly driving its popularity. The Cardrona Hotel is more than just a property; it’s an opportunity to own a much-loved and recognised Kiwi icon.”

The hotel has also attracted considerable attention from international media, receiving coverage across various countries, including Australia and Iceland. Mr. Thornton noted the emotional connections many interested parties have with the hotel, as most have visited or stayed there in the past. This personal connection adds to the allure of acquiring a piece of New Zealand’s heritage.

Expressions of interest for the freehold going concern will close at 4 PM on March 15, 2024. The ongoing interest in the Cardrona Hotel reflects not only its historical value but also its potential for future development in the hospitality sector. As discussions continue, the future owner of this iconic hotel will play a key role in preserving its legacy while potentially introducing new ideas to attract both locals and tourists alike.