- An overseas buyer paid $45m for Hahei Beach Resort, approved by the Overseas Investment Office.
- Tasman Tourism New Zealand also bought Raglan Sunset Motel for $5m, continuing its real estate spree.
- The company plans to invest in and upgrade both properties, enhancing regional tourism infrastructure.
An overseas buyer has paid $45 million for a large holiday park on a prime piece of Coromandel beachfront, OneRoof can reveal.
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Tasman Tourism New Zealand, a joint venture between an Australian private equity firm and an investment company based in the United Arab Emirates, scooped up Hahei Beach Resort last month after approval from the Overseas Investment Office.
The company, which has been on a real estate shopping spree in New Zealand, also secured Raglan Sunset Motel, in Raglan, for $5m.
The Hahei Beach Resort deal required OIO sign-off because the 6.7ha property includes 500m of beachfront land deemed sensitive.
The deal for the 6.7ha Hahei property required sign-off from the Overseas Investment Office. Photo / Facebook
The OIO ruled that the purchase benefitted New Zealand, reasoning that it advanced the Government’s tourism strategy. The property settled in mid-May for $45m, according to Thames Coromandel District Council records.
Both Hahei Beach Resort and Raglan Sunset Motel were sold by New Zealand investment group Hahei Beach Limited. It bought the holiday park with campsites, cabins, villas and a cafe and bar in 2015 for $13.25m and the motel in 2015 for $3.88m in 2018.
Hahei locals told OneRoof they had been surprised by the sale of the popular campground.
Tasman Tourism New Zealand has acquired 12 holiday parks in the last six years, including Waihī Beach Holiday Park and Pāpāmoa Holiday Resort.
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Its biggest rival, Australian-based property group Hampshire Holiday Parks, only entered the New Zealand market in 2023 but has since acquired 11 parks, including Taupō Holiday Resort for $50m and Hot Water Beach Top 10 Holiday Park for more than $16m.
Tasman Tourism New Zealand did not respond to OneRoof’s request for comment about its latest purchases.
But Nikki Milne, CEO of the company's subsidiary, Tasman Holiday Parks, said in a statement released last month that the acquisitions represented more than network growth, and signalled a long-term commitment to regional investment, tourism infrastructure and destination development across New Zealand.
“Importantly, we see these acquisitions as an opportunity to continue investing in regional tourism, supporting local economies and enhancing the guest experience through thoughtful property improvements and long-term development.”
The company plans to further invest in and upgrade both properties, she said.
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