Held in the same family for over 40 years, this property sits in one of the most desirable streets in Queenstown, and offers a multitude of options for the savvy investor. The current configuration presents with dual two-bedroom, one-bathroom units on the site and plenty of off-street parking all only a short walk from the hustle of Queenstown CBD and Queenstown gardens.
Updated with double glazing and with their own heat pumps, these units will serve as excellent rentals but also offer plenty of scope for renovation which could offer exciting Airbnb potential. The area is well known for its prestigious location, and is only a short stroll to the heart of Queenstown and also having direct access to the CBD, Park Street walking track and the Queenstown Gardens. Property in this area is very tightly held and often redeveloped for trophy homes.
Whether you are looking to buy and hold, renovate and rent, or redevelop entirely, this excellent address and location is an opportunity that is not to be missed. Get in touch to book your inspection today!
This property will be sold via Deadline Sale on Wednesday 13th November 2024 at 12pm (unless sold prior)
• Two units on one title
• Each unit is two bedroom, one bathroom
• Multiple off-street parking options
• Rental appraisal of $525 to $575 per unit, per week
• 559sqm of medium density land
• Rent or renovate with excellent Airbnb potentialbullets
Welcome
Welcome to the Colliers deadline sale information for 21 Brisbane Street, Queenstown.
If you haven’t been involved in a deadline sale process before, or even if you have and would like to learn more, please take a few moments to read the information below regarding how the price expectation for a deadline sale is generated.
A deadline sale is the process of purchasing real estate through confidential submitted written offers. If you want to buy a property by deadline sale, you prepare your best offer and send it to the seller to consider alongside any other offers the seller gets at any point in the deadline sale campaign.
The property is offered for sale with no price, with a deadline by which offers need to be submitted on the basis that the vendors reserve the right to accept an offer at anytime before the deadline sale closes.
What is a Deadline Sale?
A deadline sale is a variation on both auction and tender, but like both those marketing methods, is intended to make clear to buyers that it is the vendor’s intention to be sold on or before the deadline date.
Whereas with an auction all bids must be unconditional, and bidding is public, with deadline sales offers are protected by client privacy provisions and so are not disclosed to other buyers, and may be either conditional or unconditional.
Executive Summary
Address
Rates
CV
Floor Area
Land Area
21 Brisbane Street, Queenstown
QLDC: $8,044.52 per annum | ORC: $955.97 per annum
$1,960,000
120m² more or less
559m ²more or less
Built Approx 1970
Exterior
Floor Coverings
Windows
Concrete block, weatherboard
Tiling, carpet and imitation timber
Single glazing, double glazing
Hot Water Electric
Heating Heat pumps
Insulation
Walls, under-floor insulation
Aspect East, west
Laundry
Part of room/garage
Views Mountain
Parking
Rental Appraisal
4x off-street parking
$525 - $575 per unit, per week
Other Information
The following information is also available for this property - contact us for your copy.
• LIM
• Record of Title
• Plans
Queenstown
The town centre has extremely sought-after housing. There’s ample property within walking distance of town, with residences ranging from luxury apartments to family homes on high-value land and rental properties occupied by multiple tenants.
Prices in the town centre prove consistently strong, particularly properties with sought-after zoning and the ability to build more than one unit onsite. House prices remain largely immune to the area’s seasonal trends, with high tenancy demand and consistent returns.
Rental Appraisal
Date: Thursday 16th October 2024
Property: 21 Brisbane St, Queenstown
To Whom It May Concern
Queenstown investment property is our specialty. At Pure Property, we focus purely on managing properties to maximise rental income and minimise owner input
As a small team dedicated to property management and with decades of combined industry experience, Pure Property provides a personalised service allowing us to tailor management options to suit your needs.
Pure Property will take care of every aspect of managing your property. Our services include but are not limited to:
High-exposure marketing to minimise vacancy time
In-depth tenant selection to protect your investment
Full and detailed financial reporting
Regular rental reviews and careful arrears control
Skilled maintenance contractors available 24/7
Regular scheduled inspections with photographic reporting
Use of market-leading property management systems and technology
On-call property managers 24/7
Proactive communication
Property Description
Dual two-bedroom, one-bathroom units on one title
Multiple off-street carparks
Updated with double glazing and heat pumps
Highly sought after central Queenstown location, within walking distance to town, public transport and other local amenities
Rental Returns
We believe that a weekly rental return of the current condition pf the units is estimated to be between $525 and $575 per week, per unit.
This appraisal is based on the current market conditions, comparable Pure Property rental properties and advertised properties Market and seasonal conditions at the time of letting, along with the number of tenants, un/furnished and the length of the tenancy will also influence the actual rent that can be achieved
Please note: Whilst careful market research has been undertaken to provide realistic appraisal information, Pure Property accepts no liability for the accuracy and extensiveness of the appraisal information provided Please do not use the appraisal information for financial purposes
Should you have any queries or require further information in relation to our services, please do not hesitate to contact me on the details attached.
Kind regards,
Billie Cole
RECORD OF TITLE
Identifier
OT3A/223
Land Registration District Otago
Date Issued 15 March 1967
Prior References
OT378/110
Estate Fee Simple Area 559 square metres more or less
Legal Description Lot 2 Deposited Plan 11337
Registered Owners
Desmond John McTaggart and Adele Maree May as Executors
Interests
Offering at Deadline Sale
Buying by deadline sale is a relatively simple process, with advantages for the buyer as well as for the seller. However, it’s not simply a matter of turning up on the day and writing down what you’d like to pay. It’s worth doing homework to know your rights and obligations, to ensure you feel comfortable with the process.
To help you better understand how deadline sales work, we’ve put together a list of key things you’ll need to do before submitting an offer.
Arrange finance. This is very important. You need to be comfortable with the level at which you’re offering. It’s fine to put a finance clause into the contract, but bear in mind that a vendor may favour the most straightforward offer on the day.
Read the contract. The ‘Sale and purchase agreement’ is the contract signed by the potential purchaser at the time of submitting a deadline sale offer. If your offer is accepted, it will then be signed by the vendor and become a binding contract. It contains a legal description of the property, a list of chattels, terms of settlement and the possession date. It can be helpful to have a lawyer check through this for you.
Know the value. If you have been studying the market, you may have a good idea of what the property is worth. If you need help, your real estate Sales Consultant can refer you to similar homes which have sold recently that are a good comparison. Otherwise you could arrange for an independent valuation.
How to make an offer
Know the process. Talk to your real estate Sales Consultant about exactly what will happen on and before the deadline sale closing day.
At Colliers we understand that submitting an offer by the deadline sale process can seem daunting. We want our clients to feel reassured that the process is professional and transparent at every stage. Below are some hints to help you feel more comfortable with how the process works:
Talk to your Sales Consultant when formulating your offer. They can assist you in looking at comparable sales and provide information enabling you to make an offer you’re comfortable is the current market value.
Consider your conditions carefully. Where possible it’s best to minimise the conditions on a deadline sale offer, however it’s also advisable to not spend a large amount in advance when there is a chance your offer may not be selected. Balance is the key.
You’ll need to fill in the following information on the Sale and Purchase agreement to make your offer:
• Purchase price
• Deposit amount
• Settlement date
• Any conditions (inspections, LIM report, valuation, finance etc)
• Solicitor details
Frequently Asked Questions
Is a reserve price set? No, the vendor cannot set a reserve price for the deadline sale, but the vendor will have in mind a price. Other than the vendor, the real estate listing agent is the only person who may know this price which is generally established by feedback from potential purchasers. Buyers are invited to submit an offer at a level at which they would be comfortable to purchase the property.
Can I buy before the deadline sale closes?
Yes - the vendor has the option of considering conditional or unconditional offers at any stage of the campaign.
How do I make an offer? Your Sales Consultant will provide you with a Sale and Purchase Agreement for the property. This needs to be completed by the purchaser with your details, purchase price, deposit amount, settlement date and any conditions. The offer is then placed in a sealed envelope to be opened by the vendor at any time up to and including the closing date of the deadline sale.
Can I make a conditional offer? Absolutely. Bear in mind though that the vendor will take into consideration any conditions, particularly if there is more than one offer. It is prudent to resolve as many conditions as possible before submitting the offer.
Can I negotiate? The deadline sale process is a ‘best foot forward’ strategy - purchasers are expected to submit their best offer on the day. The vendor can then consider all offers at the same time and choose their course of action. The vendor can choose to accept any offer (not necessarily the highest one), reject all the offers, or enter into negotiations with one or more of the potential purchasers.
How do I know who wins the deadline sale? You should be contacted within a few hours of the deadline sale closing time to advise whether you have been succesful or not. If you are successful you now have a contract with the vendor and can start working through conditions (if any).
If the vendor does not receive the price they want, they may choose to start negotiations. The submitters of the top offers can be asked to re-submit a new offer, or negotiations can continue with one. This can mean that deadline sale negotiations can continue well past the closing date.
What is the difference between deadline sale and tender? Deadline sales vary from tenders as follows – when a property is marketed by tender it cannot be sold before tender date, offers must be on a tender form and accompanied by a 10% deposit, and must remain valid for 5 working days from the close of tenders. With deadline sales none of these things apply – offers can be made (and accepted) at any time, they are made on a normal sale and purchase agreement form, and can be withdrawn at any time prior to acceptance by the vendor. There is no requirement to attach a deposit cheque to the offer.
Meet our team.
Queenstown Residential
Fred Bramwell Director
Sales Consultant 021 435 694
Brendan Quill
Sales Consultant 021 416 785
Doug Reid
Sales Consultant 027 431 3278
Hugh Clark
Sales Consultant 027 223 2997
Maria Wyndham
Sales Consultant 021 997 522
Poppy Jefferies
Sales Consultant 022 043 9935
Vera Stewart Sales Consultant 021 059 6266
Raylene McQueen
Business Manager 021 045 0813
Candice Buchanan
Sales Consultant 027 630 1283
Emma Lups
Sales Consultant 027 428 5100
Anna Wang Sales Consultant 027 788 8696
Damien Henaghan Sales Consultant 021 728 003
Eoin Miles
Sales Consultant 027 777 2006
James O’Hagan
Sales Consultant 021 909 323
Mei Chen Sales Consultant 022 075 9847
Jesse Johnston
Sales Consultant 027 733 7755
Richie Heap Sales Consultant 021 500 815
Vicky Tomich
Sales Consultant 021 0265 5092
Nicole Bell
Sales Consultant 021 898 326
Stephen Hebbend
Sales Consultant 021 453 881
Zach Hylton
Sales Consultant 027 369 6805
Colliers Otago
Colliers Otago’s residential sales team provide leading property sales and marketing services with an established track record and unrivalled teamwork. We think global and act local, with strong regional knowledge and connections across all property sectors. Our residential team is focused on adding value to our clients’ investment decisions. We are market leaders in research, allowing a unique, knowledge-based approach to buying and selling. As the largest multi-service real estate professionals in Otago and Southland, we have specialists working in residential property, commercial sales and leasing, tourism brokerage, valuation and advisory. With offices in Queenstown, Wanaka, Cromwell and Dunedin, we can cater for your specific real estate requirements - strengthened by our national & international Colliers network.
Waiver of Liability
The information contained herein or otherwise in relation hereto is provided by Colliers and affiliated companies in their best judgement, in good faith and as far as possible based on data or sources which are believed to be reliable. The material contained herein is not intended to substitute for obtaining individual advice from a qualified professional person. Colliers, its officers, employees and agents expressly disclaim any liability and responsibility to any person whether a reader of this publication or not in respect of anything and of the consequences of anything done or omitted to be done by any such person in reliance whether wholly or partially upon the whole or any part of the contents of this publication. Therefore we record Colliers has used its best endeavours to ensure the information provided is true and accurate but Colliers does not accept any responsibility or liability in respect of any errors, inaccuracies or misstatements which may be contained in them. COPYRIGHT Colliers. All rights reserved. No part of this work may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying, recording, recording taping, or information retrieval systems) without the written permission of Colliers.
