The
Waldorf Stadium Apartment Hotel in Aucklands Central Business District (CBD) has been sold to
Australia-based Mulpha Group (Mulpha), a subsidiary of Malaysia-based real estate developer and hospitality giant,
Mulpha International Bhd, at an undisclosed sum. Built in 2008, the 178-unit
strata-title development was sold subject to a new 11-year performance lease
underpinned by Japan-based serviced apartment conglomerate, Daiwa House Group (Daiwa). The hotel comprises a
mix of studio, one, two and three bedroom apartments. Other facilities include
a breakfast restaurant and a business centre. Located in downtown Auckland, it
is in close proximity to major attractions including the 12,000-capacity Spark
Arena, the Britomart precinct, Auckland Waterfront and Queen Street; the citys main commercial and retail thoroughfare.
Dean Humphries, National Director of Hotels at Colliers International, stated
that the transaction is the first major hotel sale and the largest hotel
transaction in Auckland for the past 12 years. Insiders valued the deal to be
at between NZD60 million to NZD70 million (about AUD55 million to AUD63 million).
Persian
