A two-level mixed-use building in the centre of Queenstown with potential for redevelopment will catch the eye of buyers looking to purchase an asset with long-term upside.
Sitting at 8 Henry Street, Queenstown, the property has approximately 249sq m of floor area. The landholding measures 531sq m and the site benefits from frontage to the new CBD bypass, offering great visibility to a high number of daily traffic movements.
The ground floor is currently leased to the Royal New Zealand Plunket Trust, while the first floor comprises a two-bedroom residential unit that is leased on a periodic tenancy.
The total gross annual rental income from the property is $88,500 plus GST and outgoings.
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The property is zoned Queenstown Town Centre, allowing for a wide range of commercial, retail, and tourist accommodation activities, subject to the relevant consents.
Colliers Queenstown brokers Alastair Wood and Mark Simpson have been exclusively appointed to market the property for sale via auction to be held at Colliers Queenstown, 10 Athol Street on 25 February at 11am, unless sold prior.
The ground floor spans 142sq m and features partitioned consulting rooms, bathroom amenities, a kitchenette, and an open plan play area that opens out into a secure outdoor play area.
The first floor measures 107sq m and is accessible via internal and external stairwells.
Associated site improvements include a carport, three ancillary sheds, and a sealed driveway. The configuration allows flexibility for alternative uses.
Wood, commercial sales and leasing broker at Colliers Queenstown, says the property's prime location and flexible zoning make it highly attractive for buyers.
"The rental income in place from the existing tenants, along with the property's proximity to the Queenstown CBD and its potential for future redevelopment, makes this an appealing opportunity," Wood says.
Queenstown's reputation as the adventure tourism capital of New Zealand continues to drive interest in the town with visitor numbers edging closer to pre-Covid levels, according to data from Stats NZ that was released late last year.
Outdoor activities like bungy jumping, jet boating, cycling tracks, and world-class golf courses all add to the area's appeal, while they are supported by a dynamic hospitality sector.
There is also a considerable development pipeline planned for Queenstown with ongoing roading improvements, town centre street upgrades, and further housing all set to take shape over the next few years.
Simpson, director at Colliers Queenstown, says Queenstown has bucked recent national trends with an economy that is performing strongly and a housing market that has seen prices steadily increase.
"Data from Infometrics highlights the ongoing GDP growth in the Queenstown-Lakes District, while the number of business units rose by 5.3 per cent in the year to February 2025, noticeably higher than the national figure of 0.5 per cent," Simpson says.
"Population growth in the area continues to expand as people are drawn to the area's appealing lifestyle."
- Supplied by Colliers
