WARNER’S HOTEL
Brewery Lease Renewed
Wamer’a Hotel, in Catheedral square, will continue to be leased by New Zealand Breweries, Ltd., for another five years from the expiry of the present lease this week.
Mr Duncan McFarlane, sen., a principal shareholder of Square Freeholds, Ltd. whirfi owns the hotel, has accepted an offer from the breweries for a renewal of the lease at what is believed to be a reduced rental. A counter-proposal by Mr McFarlane was rejected by tha brewery company. Last year there were suggestions that Warner’s, which h« been one of the city's leading residential hotels for many years, would go out of existence, becoming shops and offices. Later it was reported that the hotel had been offered to the Tourist Hotel Corporation, but it was not interested.
More recently there was a scheme, given wide publicity, for a £2 million tourist hotel with 600 beds on the site apd using several adjoining premises. However, the paper scheme had little financial backing. New Zealand Breweries, Ltd., was not prepared to renew the lease at the present rental, and it appeared that Mr McFarlane might have to resume the licence himself if the hotel was to continue as a hotel.
There has been a hotel on the site for 99 years.
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Bibliographic details
Press, Volume CI, Issue 29722, 16 January 1962, Page 10
Word Count
212WARNER’S HOTEL Press, Volume CI, Issue 29722, 16 January 1962, Page 10
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