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Posted a week ago Queenstown 7 Suite & Ensuite Lodge For Sale 420m2 703m2 Hotel Motel Leisure $7,900,000 Plus GST (if applicable) A portfolio of four commercial units in a new development in Queenstown, including commercial accommodation and mixed-use residential site, has put on the market for sale.

The units are being sold as rental investment opportunities and are located in Frankton, in close proximity to Queenstown International Airport, or in the city’s CBD.

Prime Queenstown Cbd With Upside

Portfolio – Can be tendered individually, as a combo package, or any combination of four sites, including:

2,500-square-foot street eatery at the Ramada Excellence complex at 24 Hawthorne Avenue, Frankton

· A 1,400-square-foot commercial street space, also within the Ramada Remarkables complex, with a physical therapist suite, as well as offices for a car rental company and

1,500 square feet of retail food service space at the 55-unit Wyndham Garden apartment complex at 32 Red Oak Avenue in Frankton.

Queenstown Hill Commercial Properties For Sale

The three Ramada/Wyndham hotels in Queenstown were built by Safari Group (NZ) Limited, a New Zealand private construction company with a long history of successfully developing mixed-use hotel properties across the country.

Four Queenstown properties are being sold through a private treaty process co-managed by Auckland and Queenstown, with deals closing on August 8. Auckland seller Stephen Scott said the layout of properties in the portfolio offered potential investors diversity and scale.

At the Ramada’s Queenstown location, the freehold unit’s titled street building features the Redwoods Restaurant, which has a 10-year lease through 2027, with three additional 4-year renewal options , currently generating a net lease of $157,000, plus GST. year.

Redwoods intends to open 7 days a week, offering Euro-Kiwi casual dining to local patrons and hotel guests. Its silhouette includes a spacious outdoor dining area.

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Ramada by Wyndham Queenstown consists of upscale apartment-style rooms, a fitness center, conference facilities, and restaurants in its central business district. The building is expected to be completed in September this year.

Meanwhile, at Ramada Excellence, three separate leases occupy two commercial units that are being sold, Scott said.

The ground floor property is home to the family-run Frank’s Eatery, specializing in breakfast and lunch service. The business opened in 2017 with a 7-year lease term through 2024, with three additional 4-year renewal options, and currently generates a net lease of $129-306 plus GST per year.

Also on the ground floor, two leases are contained in a unit of 136 m2. Queenstown Physiotherapy is leased for six years through 2023, with two-year renewal options. The Ramada Remarkables Clinic is one of four Queenstown physical therapy locations in the area; the others are in Queenstown and Arrowtown.

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Neighboring mortgage, investment and insurance brokerage RMA Financial is also on a six-year sublease through 2023. The two leases together yield a net lease of $85, or 467 plus GST per year.

The Ramada Excellence boutique hotel at Excellence Park in Frankton, on the outskirts of Queenstown, contains 54 rooms, 56 parking spaces and five ground-floor shops. Large national retail tenants within the Park of Excellence city center include The Warehouse, Noel Leeming, Harvey Norman and New World.

After the portfolio was completed, the 1,500-square-foot corner retail unit at Wyndham Gardens was leased to Frank’s Pantry, a sister store to Frank’s Eatery. Frank’s Pantry opened last year with an eight-year lease term through 2026, with three additional four-year renewal options, and the current net rent is $111, or 850 plus GST per year.

Wyndham Garden – Franchised by the global hotel chain Wyndham Hotel Group – 2 minutes from Queenstown Airport and 12 minutes from Queenstown city centre. The development includes 75 serviced apartment units, 55 residential apartments, and 8 retail and office units, based on the Park of Excellence Town Center, which includes a variety of community convenience stores, businesses, and food and beverage outlets .

Clubhouse Lane, Jack’s Point, Queenstown — Jack’s Point

Queenstown salesman Stacy Coburn said Safari Group’s massive investment in creating new commercial accommodation and supporting retail stores within the Wakatipu Basin was on the verge of a wave of hospitality from Queenstown, which had been “sizzling” for about nine years.

“For the foreseeable future, the healthy financial returns of the hotels currently operating in Queenstown have spurred significant investment plans in the industry, with Ramada and Wyndham Hotels being the first to enter the market.

“Around 16 new hotels are being planned in the Lake Wakatipu area. If all the proposed hotels come to fruition, Queenstown’s booking will increase by two, 824 rooms, by 2025.

“This includes another Safari Group (NZ) Limited property: the $90 million Ramada Kawerau River property comprising 87 hotel units and 97 residential apartments. Construction is expected to start this month.”

Henry Street, Queenstown

Statistics from a range of government departments and tourism bodies show that the last nine years have been a booming time for the Queenstown region’s accommodation industry and tourism in general.

Queenstown’s domestic and international tourism spending reached new peaks in the year ending 31 January 2019: international tourists spent NZ$1.5 billion in the local Queenstown economy and domestic tourist spending in the region rose to 837 million New Zealand dollars.

Around 3.69 million guests stayed in Queenstown in the year ending January 31, 2019, an increase of 3.1% over the same period in 2018. The majority of commercial accommodation providers in Queenstown belong to to the 4 and 5 star categories.

“New Zealand’s tourism industry has boomed in recent years with a dramatic increase in foreign tourist arrivals. Queenstown has been one of the main beneficiaries of the increased spending due to its international reputation as a hub for adventure tourism “says the report.

New Zealand Hotel And Apartment Developers

Five-star hotels in Queenstown had an annual occupancy rate of 81.3% as of April 30, 2019, well above the baseline 65.6% recorded in 2010. During the peak summer months of January and February, hotel occupancy rates hovered around 93 percent, the association reported.

Meanwhile, data from the association also shows that the average nightly rate at hotels in the region increased from $155 in the year ending March 31, 2015, to $249 in the year ending March 31, 2019. Meanwhile, revenue per available room increased from $116 to $203.

A branch of New Zealand’s publicly traded gourmet burger chain BurgerFuel is housed in a modern townhouse in the heart of Silverdale, on Auckland’s Hibiscus Coast.

A rare large-scale industrial development site in Tauranga is expected to attract buyers’ attention in the North Island’s ‘golden triangle’.

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Home to the largest skin cancer clinic in the South Island and a leading plastic surgeon, this award-winning medical facility has been put up for sale on the Christchurch Health Precinct. Opening up a prime location in the Queenstown retail landscape to investors with the sale of 17 Rees Street, a CBD commercial property that has been fully leased to well-known Australian retail brand Platypus Shoes.

The building has a total area of ​​approximately 127.70 m2, including a regular lease of 96.5 m2 on the ground floor, with a mezzanine of 31.2 m2 on a freehold site of 107 m2.

Has been designated exclusively to sell properties for sale prior to the private treaty closing date of August 5, 2021 (unless sold sooner).

Queenstown commercial agent Rory O’Donnell, who markets the property, said it was rare to have access to such a quality asset.

Colliers Otago Property Market Review & Outlook 2021 22 By Colliers Otago

“The tight control of property in the Queenstown CBD means this is a unique opportunity to acquire quality assets at affordable prices in the context of our CBD.

“The property has a strong investment base, aided by a new seven-year lease with Platypus Shoes, an Australian retail brand owned by Accent Group Limited.

“Platypus is a specialist footwear retailer with a large portfolio of global brands and is part of Accent.

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