A centrally located retail and entertainment centre in Queenstown is available for purchase, offering buyers the opportunity to acquire a high-quality mixed-use asset in New Zealand’s most sought-after tourist destination.
Known as Upper Village, the architecturally designed property sits prominently on an elevated 3,285sq m site at 35 Brecon Street and features expansive views over Queenstown Bay and the surrounding alpine landscape, including the Remarkables mountain range.
Located only 400m from the CBD and 150m from the Skyline Gondola, the asset offers unparalleled access for visitors to Queenstown.
The fully leased commercial centre has 4,841sq m of gross lettable area with a weighted average lease term of 6.3 years, anchored by King Pin – a modern entertainment attraction that is complemented by a strong mix of other international and national tenants, providing diversity of income and use for investors.
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With an estimated net annual operating income of $2,917,599 plus GST, this multi-level centre was completed in 2021 with significant frontage to Brecon Street giving it exposure to the estimated 1.3 million annual visitors to the Skyline.
Colliers Queenstown Brokers Mark Simpson, Rory O’Donnell, and Mary-Jo Hudson have been exclusively appointed to market the property for sale via an international deadline sale closing at 4pm on Wednesday 28 October, unless sold prior.
The other tenancies at the property include The Bathhouse Spa, a premium wellness destination offering a luxury European-inspired bathhouse experience focused on relaxation, recovery, and wellbeing; Anita Gelato, an international retailer with over 20 branches worldwide; premium dining destination Prospects; the Scandinavian-inspired Minus 5 ICE BAR; and the ROKI Collection staff accommodation and offices.
Simpson, Director at Colliers Queenstown, says the property has a high-quality and diversified tenancy profile, balancing risk for investors.
“A mixture of fixed, CPI, and market indexed rental reviews provide investors with a strong hedge against inflation and market volatility,” Simpson says.
“Given the age and recent construction and reconfiguration works at the asset, there are no immediate capital expenditure requirements.”
Queenstown has enjoyed bumper tourism numbers recently and data from Stats NZ noted the town had 493,500 overseas visitor arrivals in the June 2026 year, a record for any annual period for Queenstown Airport. This figure is up 15 per cent on the year prior.
Those arrival numbers have filtered through to accommodation requirements in the area and analysis from Infometrics highlights that total guest nights in the Queenstown-Lakes District increased by 6.5 per cent in the year to June 2026, compared to a year earlier.
O’Donnell, Commercial Broker at Colliers Queenstown, says the area has a pipeline of infrastructure projects that will further enhance the tourism experience for visitors and cater to the area’s growing population.
“The resident population of the wider Queenstown area has grown at a much higher rate than the national average as people have moved to the region to capitalise on its lifestyle benefits,” O’Donnell says.
“International visitor numbers continue to trend in a positive direction, which is highly encouraging for Queenstown as it has firmly established itself as a destination of choice for global travellers.”
Hudson, Commercial Broker at Colliers Queenstown, says the Queenstown CBD market remains tightly held with properties of scale seldom changing hands.
“Queenstown’s CBD commercial market continues to outperform the majority of New Zealand’s prime retail property sectors with the historically low yields reflecting the tightly held nature of the market, extremely low vacancy rates, and ongoing rental growth,” Hudson says.
“The pool of active capital that is investing in Queenstown continues to diversify with local and national investors now supported by a growing number of international buyers seeking a stake in this thriving market.
“This economic growth, alongside recent CBD sales at very strong yields relative to the rest of New Zealand, signals the ongoing confidence in Queenstown as a long-term growth market that investors continue to place capital into.”
- Supplied by Colliers
