Queenstown’s most successful retail and business centre is forging ahead with multi-million-dollar investment plans for two new buildings catering for ongoing growth in the region.
Plans for the buildings within the Five Mile Retail Centre have been lodged with the Queenstown Lakes District Council, as an amendment to a previously approved resource consent.
The most impressive of the two buildings is a 7,200sq m six-storey structure called Murchison Tower, comprising retail on the ground floor and five floors of premium A-grade offices above.
On the corner of Five Mile Place and Murchison Road, opposite the existing Craigs Investment Partners building, it will feature outstanding views of The Remarkables mountain range and surrounding peaks.
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An adjoining three-storey car parking building rises above the existing car park to the rear of the Woolworths supermarket, featuring pedestrian links to retail and office space.
The combined completion value of the retail/office building and car park building is expected to be in the region of $80 million.
Colliers Queenstown is seeking expressions of interest from key retail and office tenants.
Construction is planned to start in the second quarter of 2026, with both buildings expected to be completed by the end of 2027.
Queenstown Gateway Five Mile director Craig Greenwood says demand for office and retail space is strong, with Five Mile seen as “the place to do business”.
“The rate of change in growth in the Queenstown and Southern Lakes district is linear each year,” Craig says.
“This district has experienced extraordinary levels of population and business growth. There was absolutely nothing at Five Mile before the first sod was turned in October 2013 and the supermarket opened two years later.
“Ten years down the track we’re proud to have delivered a bustling and successful retail and business centre that supports and strengthens local businesses, providing better amenities for our local community while creating so many jobs.
“Our investment in Murchison Tower and additional parking will strengthen Frankton’s position as the commercial centre of Queenstown and the Southern Lakes.”
Mark Simpson, Director at Colliers Queenstown, says there is strong market-led demand for A-grade office and retail space that supports existing growth in the Frankton area and signals long-term confidence in the region’s continued growth.
“We already expect strong levels of interest for what will be the best office address in Queenstown while remaining complementary to the existing downtown Queenstown CBD,” Simpson says.
“It’s important that the Queenstown CBD retains its vibrancy for the local community and visitors, while Frankton grows as a strong location for commerce.”
The Murchison Tower building is seen as a completion of the vision for the existing Five Mile Centre precinct, with its design mirroring the prominent entranceway to Five Mile housing the Sudima Hotel and specialty retail outlets.
The striking design by Plus Studio features a gabled roofline taking its cues from the rugged Remarkables mountain range, a rippling louvered facade with corten steel, and a welcoming and stylish ground floor entrance lobby.
Extensive full-height windows, softened by vertical louvres and timber features, will capitalise on views of the mountain landscape.
The new three-storey car parking building will provide an additional 215 spaces.
The existing ramp access to car parks will remain in place. It will be enclosed against the elements, giving office workers and shoppers direct access to the new office tower and centre shopping.
- Supplied by Colliers
