JLL closes largest sale of a single hotel asset in New Zealand history

JLL has announced the sale of the Stamford Plaza Auckland for NZ$170 million ($95 million), the largest-ever single hotel asset in New Zealand history to go unconditional.

The Stamford Plaza, which was originally branded as The Regent, was managed and operated by Stamford Hotels & Resorts as part of the Stamford Group for the past 27 years.

The Stamford Plaza was sold to a consortium comprising the CP Group, one of the biggest hotel owners in New Zealand with a global portfolio in excess of 50 assets, in association with global investment firm Alvarium Investments via its locally owned Auckland office and Archipelago Capital. CP Group believes now is the right time to buy in the New Zealand market following the opening of international borders in the country and stability of the commercial property sector.

Andrew Williams, Alvarium Investments founder and global co-chair, considers this investment an important strategic decision to add a premium Auckla