The Governors Bay landmark has a $2.5 million price tag.
Several interested individuals and businesses have been in contact with owners Jeremy Dyer and Clare Neville-Dyer but they are still waiting for the right match.
After more than 20 years as the pub’s owners, the couple now want to retire. Their two adult children are not interested in inheriting the hotel.
“We’re definitely realistic about the time it takes to sell hospitality ventures. It’s a lot more difficult to sell a hotel than a house,” said Dyer.
He believes difficult economic conditions and high employment are causing fewer people to show interest in the hospitality sector.
“Banks are notoriously hard to lend off, particularly for hospitality,” said Dyer.
“The money we’re asking for not many people have got in their back pocket. That’s why it’s a fairly small talent pool from a potential buyers point of view.”
The couple want to either sell both the property and business or hold the title and lease it with a potential lease-to-buy option.
They have a road trip around New Zealand planned once the sale is done.
“We’ve enjoyed our years here and it’s time move on really.”
The hotel is the only bar in Governors Bay and is affectionately known as ‘the pub’. Residents often also use it as a community hub.
“One of our regulars bet me $1000 in 2003 to say we’d be gone in a year. I never got the money off him.”
Under the couple’s ownership, it was called the Governors Bay Hotel until 2020, when they decided to shake off the name’s colonial history and adopt the Māori name for Governors Bay, Ōtoromiro.
If both the business and property are sold, Dyer hopes the new owner will retain the Māori name.
