Celebrated for its sustainability and local engagement, a 78-room boutique hotel in Queenstown has transacted off-market to RF Corval, the Sydney-based property investment firm.
The Sherwood Queenstown, strategically located midway between central Queenstown and Frankton, was sold by the Colliers team of Steve McIsaac, Jackie Su, and Karen Wales.
The original Sherwood Manor was acquired by entrepreneur and investor Adam Smith in 2014 and over the next decade he worked with a talented team to create a showcase of local produce, original live music, art, and wellbeing initiatives with community and sustainability at its heart.
“To a large extent, Sherwood has been a success because of the people it has attracted over the years and the new ownership is committed to retaining the Sherwood team and serving the greater Sherwood community that has supported us,” Smith says.
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Wales, Head of Hotels, Transaction Services at Colliers Australia, says: “Since its inception, Sherwood Queenstown has brought together people with music, art, and food through an outward-facing hospitality platform, accommodation, wellbeing, workspaces, and boutique retail. The Sherwood’s picturesque lakeview location and perfect blend of sustainability, culture, and lifestyle attracted RF Corval to the opportunity.”
Su, Senior Executive for Hotels at Colliers Australia, says: “With 4,000sq m of GFA existing improvements across hotel rooms, the restaurant and associated facilities, the offering also includes the potential for further development being situated on a significant 1.5ha freehold landholding in an exceptionally tightly held market.”
Underpinned by multiple revenue streams, including accommodation, hospitality, entertainment and events, alongside wellbeing and coworking initiatives, the hotel also boasts an award-winning restaurant and bar.
RF Corval Senior Investment Manager Maria Verner says Sherwood Queenstown is a quality asset that is a strategic addition to RF Corval’s hotel portfolio.
“The hotel provides exposure to one of New Zealand’s premier tourist destinations, with the opportunity to elevate the product and further enhance a unique guest experience. Sustainability has been embedded at the core of the business since its inception, and with a strong alignment of values, RF Corval will ensure this continues,” she says.
RF Corval plans to refurbish the hotel, and it will be operated by EVT under the Sherwood brand as part of its independent collection of hotels and resorts. The hotel will continue to be run by General Manager Hayley Scott, together with the restaurant and all hotel food and beverage being run by Chris Scott as Food and Beverage Director.
“With experiential travel in high demand, the future remains bright for quality hotels such as Sherwood, especially in key leisure markets, where consumers are increasingly valuing unique and immersive experiences and gravitating towards quality and sustainable offerings,” Wales says.
- Supplied by Colliers
