Huntingdon Hotel (Belleville Park Resort)

Saskatoon-based d3h Hotels has made a $5.2-million offer for Belleville Park Resort, made up of Huntingdon Hotel and Suites and the three buildings of the Gatsby Mansion Hotel,

Read more: http://www.timescolonist.com/Buyer+ready+beef+Inner+Harbour+block/6087908/story.html#ixzz1lFW7zBwR

Property is listed as a court ordered sale now
http://www.collierscanada.com/10719

Hotel For Sale

For Sale
Land Area: 1.87 Acres. Available Area: 73,957.00 SF.

Court Ordered Sale: Huntingdon Hotel & Suites

330 Quebec Street, Victoria

Description:
The Property consists of the 115-room Huntingdon Hotel, 10-room Gatsby Mansion and 10-room Judge’s House, which together are known as the Huntingdon Hotel & Suites. Located in the Inner Harbour area of downtown Victoria, the Offering presents a good opportunity for a new owner to acquire a full-service lodging property with a good mix of complementary facilities.

The Hotel will be sold free of any brand and management agreements, and the hotel operations are non-unionized, providing maximum flexibility for a new investor. There is also a good opportunity for a new investor to leverage future upside in operating performance through capital investment to enhance the physical product, as well as alternate management and/or marketing strategies.

In order to obtain access to the Virtual Data Room (“VDR”), which contains the Confidential Information Memorandum (“Memorandum”), and other due diligence materials related to the Offering, prospective bidders must complete the Confidentiality Agreement (“CA”) and return it to Colliers. Inquiries regarding all aspects of the court ordered sale, including physical property inspections, should be directed to Colliers.

Offers to acquire the Property will be received by Colliers up to 3 p.m. on Thursday September 5th, 2013. The Property is being sold “as is, where is”. Further details on the terms and conditions of sale and the Call for Offers process will be provided to prospective bidders in the Memorandum. All submitted indicative offers will be evaluated upon the conditions (if any) of the offer, timing of the closing, the consideration offered for the Property, the purchaser’s ability to pay cash or obtain third party financing to complete the sale transaction and other factors as the Court, the Receiver and Manager, and Colliers may consider appropriate and relevant, from time to time.

*For further information please complete and return the Confidentiality Agreement located in the attachment below*

Property Features for 330 Quebec Street

60-seat Hunter’s Club Restaurant
75-seat Gatsby’s Restaurant
49-seat Santiago’s Restaurant (leased)
67 underground stalls, as well as 25 paved surface stalls
Library and conference/meeting room
Dry sauna, exercise facility and change rooms
Gift shop (seasonal)
Vacant spa with two treatment rooms
Storefront commercial space
Related Documents
Huntingdon.pdf

I'll take this opportunity to post this photo I took in 1980 of the hotel under construction.

Anyone know the asking price? Curious what such a prime chunk of real estate would be worth.

In 2012 a $5.2-million offer was made.

I didn't know the hotel was that new, Rob!

I didn't know the hotel was that new, Rob!

I recall a construction delay and the framing laying exposed for a long time. It might surprise some to see the entire building is wood frame, no steel studs or concrete. I wonder what the current condition of the building is.

Man this place needs to be completely modernized. And I doubt the current building will suffice.

Isn't this the property we once saw plans of a couple of 20 story towers on?

That's right! de Hoog Kierulf were the architects.

The towers where Rita Roys attempt to keep her ship from sinking. This woman once walked into a meeting with here management team stating here time is worth a $125 and hour, so to sit still, listen up and keep any comments to yourself.

Regardless IMO the entire property is pretty drab, dull and architecturally uninspiring. I would love to see some really knock-out proposal come along to spruce up that part of the harbour. Alas, this being Victoria, suspect I will be long gone and buried in the event that happy day comes along, the inner harbour especially being - you know - Victoria's hallowed, "sacred" ground

I wonder what the current condition of the building is.

Dominion Grand Hotel Group bought the hotel for $5.65 million in February 2012.

At the time, the company outbid in court Saskatchewan-based d3h Hotels, which had earlier agreed to pay $5.2 million for the property.

Both companies said the buildings required about $3 million in upgrades to bring them back to respectability.

http://www.timescolo...ership-1.138718

I wasn't thinking about cosmetic changes but structural ones. Hotel guest have high expectations for quiet and I wonder how that wood-frame structure has held up for sound transmission between floors, including footsteps.

http://www.timescolo...ership-1.138718

From the article

Commercial real estate experts have suggested the property’s worth is likely close to $6 million because the hotelier does not own the land and must pay annual rent of more than $350,000 — an amount that increases each year as it is tied to the consumer price index — and because there are fewer than 41 years left on the land lease.

The land is owned by the Plasterer family of Victoria, held by their company, International Travel Inns Ltd.