A commercial building with an internationally renowned tenant in the heart of Queenstown is being offered to the market for sale and gives prospective purchasers the opportunity to acquire a premium passive investment.
Located at 29 Camp Street, this three-level, A-grade asset has approximately 357sq m of net lettable floor area on a 190sq m freehold site.
The property is leased to established fast-food chain McDonald’s on a long-term lease that runs until July 2033 and offers further rights of renewal through to July 2051.
The tenant has substantially invested in their own fit-out of the building that was completed in 2021.
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The annual rental income from the property is $304,104 plus GST and operating expenses and there is built-in rental growth through annual CPI reviews and market reviews at six yearly intervals.
The next CPI review is due in July with a market review scheduled for July 2027.
Sitting in a prime retail position in the centre of town, the property benefits from a high volume of passing foot traffic and vehicle movements, giving it significant exposure and visibility.
Queenstown remains New Zealand’s premier tourist destination and hosts approximately three million visitors per annum.
Colliers Queenstown Brokers Mary-Jo Hudson, Rory O’Donnell, and Mark Simpson have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 29 April, unless sold prior.
The building was originally constructed in the early 1990s and substantially renovated and upgraded in 2021, including structural improvement of seismic strength to 100 per cent NBS at that time.
Hudson, Commercial Broker at Colliers Queenstown, says the property provides buyers with appealing investment fundamentals and a strong tenant covenant.
“This modern asset benefits from its premium positioning and commanding street presence, while offering purchasers the opportunity to buy a building that has a longstanding tenant with a lengthy lease in place,” Hudson says.
“The built-in rental growth through future reviews will be enticing for buyers.
"McDonald’s is one of the world’s most recognisable brands, highlighting the strength of the tenant covenant.”
29 Camp Street is situated on the northeastern side of Camp Street within the core retail precinct of Queenstown’s downtown area.
This sector is bordered by Camp, Shotover, Rees, and Ballarat Streets and the area enjoys the highest retail rents.
O’Donnell, Commercial Broker at Colliers Queenstown, says the subject property is surrounded by a range of hospitality businesses as well as national and international retail brands.
“Queenstown Lakes District Council has completed the first two stages of a major upgrade to the roading and walkways of the downtown area.
"This project will improve access into the CBD, as well as enhancing pedestrian and vehicle movements through the town centre,” O’Donnell says.
“The Village Green park located on the corner of Camp and Ballarat Streets provides an attractive green space nearby.”
Data from Infometrics notes GDP growth in the Queenstown-Lakes District averaged 5.2 per cent per annum over the 10 years to 2025 compared with an average of 2.5 per cent in New Zealand. In the year to March 2025, Queenstown’s GDP grew by 1.1 per cent.
Simpson, Director at Colliers Queenstown, says the area continues to thrive with positive business growth numbers and an expanding population.
“The Queenstown-Lakes District has enjoyed consistent population growth across the past decade that has driven the need for more commercial services and increased demand for hospitality and food businesses,” Simpson says.
- Supplied by Colliers
