Popular hotel set to attract keen interest
The leasehold of the long-serving Oxford on Avon hotel, nestled on a prime river site in Colombo St, is being sold by the owners after 18 years in the business.
This is only the second time the business has changed hands in the past 80 years.
Philip Cooper, hospitality specialist with Colliers International in Christchurch, said the owners were retiring but had built a successful and profitable business during the past two decades.
“There’s plenty of potential remaining for this profitable business. It’s one of Christchurch’s most enduring hospitality businesses, set in an idyllic location – there’s an immense opportunity for a serious operator in the food and liquor industry to take this to the next level.”
Cooper said a new 10 year lease had just been signed, starting in December, with two further rights of renewal expiring 2030.
The two storey building is located on a 784m2 corner site and incorporates a buffet on the first level and the popular carvery restaurant on the ground floor, with ancillary bars and gaming revenue.
The Oxford Hotel, as it was formerly known, opened in 1862. The downstairs area was refurbished in the late 1990s, including a substantial new bar opening onto a landscaped courtyard overlooking Avon River. In early 2000 the first floor was transformed from a traditional bar into the buffet restaurant, catering for 180 patrons.
The site is zoned Commercial 4 and has no heritage orders registered on the title.
The Oxford on Avon is for sale by deadline private treaty, closing October 20.
For further information:
Philip Cooper, 03 365 7887, 021 326 245, Philip.cooper@colliers.com
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