Investment Highlights

Location

The property is prominently positioned on Frankton’s pre-eminent industrial street, Glenda Drive. Boasting road frontage and profile, the property benefits from exposure to one of Queenstown’s key trade hubs. Glenda Drive is accessed via a large roundabout connecting Hawthorne Drive extension to Glenda Drive and onto the north bound section of SH6. This extension provides a high quality eastern arterial connection to the large mixed use Remarkables Park Zone and Queenstown International Airport. The geographically central location of Glenda Drive within the Wakatipu Basin, ensures it is easily accessible to Queenstown, Arrowtown and the Gibbston Valley. It will conveniently serve the CBD, the town’s major developments including Remarkables Park, Five Mile, Queenstown Central, and all existing suburbs such as Kelvin Heights, Quail Rise, Lake Hayes, Millbrook, Kawarau Falls Station and Jack’s Point.

Zoning

The property lies within the Industrial A Zone of Queenstown (map 31) as defined by Queenstown Lakes District Council Operative District Plan. This zone caters to a mix of showroom, retail, printing, automotive, food processing, and various other light industrial uses. For more information refer to www.qldc.govt.nz and/or an appropriate qualified Town Planner.

Note: it is the responsibility of interested parties to undertake their own investigation in this regard.

Tenancy Schedule

Remarkables Towing Limited - Ground Floor + Yard

Commencement Date 1 March 2016

Term

Expiry Date Five year initial term, renewed on 1 March 2021 for a further 5 years

Final expiry 28 February 2026

Market Rent Reviews Every second anniversary of the commencement date (and throughout renewal periods)

Contract Rent (GF + yard) Current contract rent $62,680 + GST + outgoings

Estimated Market Rent (1st floor) $28,000 - $34,000 p.a. + GST + outgoings