Deadline pub sale attracts attention
Some interest is being shown in The Nelson Hotel, says owner Aaron McNaughton.
The 160-year-old pub on the corner of Collingwood and Bridge streets is up for sale and has been advertised with a deadline sale date of last Friday.
Mr McNaughton, a drainlayer, said there were a few interested parties.
He bought the hotel for $650,000 last year as an investment. It is notable for being the first meeting place for New Zealand's first rugby club.
Next door on Collingwood St another historic building which used to be the city’s needle exchange and more recently an art gallery was demolished in April to make way for a new commercial building.
Mr McNaughton reckons the pub’s rent is one of the cheapest in town but overheads such as $16,000 rates and $27,000 insurance are big costs.
"Between the insurance and the rates they’re more expensive than the lease," he said.
It was at the hotel that a public meeting was held on May 30 1868 to form the Nelson Football Club, which in 1870 changed its name to the Nelson Rugby Football Club.
Mr McNaughton, who used to play for Waimea Old Boys, refurbished the pub last year highlighting its rugby heritage.