National Park property going for a song

Ruapehu Bulletin, Volume 6, Issue 291, 20 June 1989, Page 3

National Park property going for a song

Almost 100 people attended the recent auction of land and property previously owned by entrepreneur Don Fletcher, but almost all were curious locals.

The land and property has a government valuation of nearly $750,000 and inlcudes

the National Park Hotel, Fletcher's Ski Lodge and about 4.7 hectares of land.

The hotel fetched a bid of $95,000, from Taumarunui mayor Terry Podmore and his partner Bill Nicholas but this wa s well under the reserve of $150,000. Mr Podmore has been unavailable for com-

ment on rumours that he and his partner intended to transfer the licence of the hotel to Taumarunui. His partner has been reported, however, to have said they were interested in reopening the hotel,

with limited staff in the off-season. Last week a group of interested people from the Bay of Plenty were looking over the hotel, with a view to negotiating with the vendors. The group told the Bulletin they were experienced hoteliers and were interested in buying the hotel and reopening it in time for this ski season. The hotel has been closed since Christmas time, when Don Fletcher went bankrupt. The hotel is valued at $242,000. Bidding for the ski lodge reached just $185,000, well under the reserve price of $295,000 and the valuation of $355,000. An Aucklander by the name of Downer was the highest bidder for the lodge. Cambridge man Keith Jones put in the top bid of $37,500 for the 4.7 hectares of land

which is valued at $130,000. Auctioneers spokesperson Gaelyn Standen said the auctioneers were pleased with the prices but the receivers were disappointed. Negotiations would be made between the receivers, Capital Investments Limited, and the bidders to try to gain prices closer to the reserves. Mrs Standen said the bidders for the lodge and the freehold land were prepared to nego-

tiate but that the hotel was a diffferent matter. Podmore and Nicholas believe the hotel would not be a viable proposition at $150,000. A decision was to be made by the receivers, who are themselves in receivership, on the saies by last Friday. Even at the reserve prices there was a large shortfall in what Mr Fletcer and his company, National Park Developments, cwes, said Mrs Standen.