Financial issues were the motivating factor in deciding to sell Wanaka's purpose-built, new sports climbing facility, BaseCamp owner Stewart Blennerhassett says.
Mr Blennerhassett advised staff on Friday the building and adjoining 3ha of land was to be sold.
The sale by tender was publicly advertised yesterday and closes with Bayleys Wanaka on July 4.
Mr Blennerhassett's company, Crofters Rook Ltd, bought BaseCamp in August last year for $3.1 million after BaseCamp Wanaka Ltd went into receivership.
Mr Blennerhassett was one of the original directors of that company, which opened its doors in October 2006, just in time for the Oceania Sports Climbing Championships.
"Basically, it comes down to finance. The bank has told me they are not in a position to extend my finance," Mr Blennerhassett said yesterday.
He declined to discuss figures.
Mr Blennerhassett felt sorry, disappointed and frustrated BaseCamp had not been able to do as well as he would have liked.
He had faced difficulties recovering from the previous regimeand resource consent timeframes meant he had not been able to sign up tenants before the bank had declined further advances, he said.
Climbing wall membership was "reasonably healthy" but he declined to disclose the number.
The income from membership and the bar and cafe was not enough to carry the financial load, Mr Blennerhassett said.
"Fairly hefty" interest bills were another factor.
Mr Blennerhassett said he had resource consent for several businesses to operate from BaseCamp, including a cinema and a gym club.
He also obtained subdivision consent for the land, which is zoned rural residential.
"I had improved the situation a lot. I put a lot of my own resources into the development of new ideas," he said.
The building has one tenant, Snow Sports New Zealand, but the lease ends with the sale.
Mr Blennerhassett said his main consideration was to avoid upsetting townsfolk who were still smarting from earlier losses sparked by the receivership.
He had not wanted to disappoint children in the sports climbing club and after-school programme, "but I would rather make the tough decision early rather than burning bridges in Wanaka".
The climbing wall was a "fantastic facility" but the new owner could use the building for whatever purpose it wanted, he said.
Mr Blennerhassett said that after the sale he would "take stock" of his situation.
It had been a stressful few years and he wanted to enjoy Wanaka and rebuild relationships with the community while considering options, he said.
He was not sure if he would return to his previous occupation as a ski guide.
Fiona Fairbairn, of Wanaka, said yesterday she and her son, Finn, a junior New Zealand sport climbing representative, were "gutted" by the announcement.
Finn (10) is one of a handful of Wanaka children who last nightstarted travelling twice weekly to the Queenstown Events Centre to train for the national cup, the nationals and the Oceania competitions between July and October.
Chris Booth, of Wanaka, was disappointed for his three children who climb competitively and for many other children in the after-school programme.
