Affordable Queenstown Commercial Property

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.

ENDS

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