Thursday, 20 September 2007, 4:21 pm Press Release: MAC property
New Ownership Concept Offers Access To Prime
Queenstown Commercial Property At Affordable
Levels
Entry level commercial property
investors will have a rare opportunity to invest in a prime
Queenstown location when a new ownership concept is released
jointly to the market by commercial agencies MAC Property
and Locations Realty.
Earnslaw House is a proposed
five-level commercial development in the centre of
Queenstown being offered for sale as commercial real estate
with a flexible choice of freehold title
options.
The opportunity provides for the sale or
lease of full or part-floor titles with the ability to
support retail, offices and/or food & beverage related
uses. The potential also exists to convert the top floor
to a residential apartment.
"The ability to acquire
prime Queenstown commercial property is getting harder and
less affordable," said MAC Property Commercial Consultant
Mark Simpson.
"Very few opportunities exist now to
acquire brand new commercial property in central Queenstown
for less than $5m. This new development offers a concept
that allows purchasers and tenants' ownership of individual
floors at a more affordable price level."
Designed
by local award-winning architect Michael Wyatt, the new
building will be located on the prime north facing corner
site of Stanley and Memorial Streets, opposite Queenstown's
recreation reserve.
Due for completion in December
2008, with a total floor area of 1883m2, the site boasts
uninterrupted views towards Queenstown Hill and Bobs Peak
(Skyline Gondola) and enjoys good natural sun and
light.
The developers, Earnslaw House Limited, are
a local Queenstown construction company with other projects
in progress in the area.
Current plans for the
proposed Man St bypass will adjoin the Man St frontage of
the property making the future profile for some uses an
added potential benefit, according to MAC
Property.
Horne Creek runs through the site
adjoining the Man St road reserve allowing a landscape plan
that will greatly enhance the outlook and outdoor
areas.
On behalf of the developers, MAC Property
and Locations Realty are seeking proposals for the entire
property, individual or part floors - Expressions of
interest close on 15 November
2007.
