Accelerating success. Unit 3, 26 Glenda Drive | Queenstown Information Memorandum For Sale at $1,195,000 plus GST
Alastair Wood +64 27 436 2422 alastair.wood@colliers.com This property is being offered For Sale at $1,195,000 plus GST. This information Memorandum provides preliminary information to assist interested parties with their assessment of the property. Further information is available via an online data room which can be accessed upon registration. www.colliersotago.co.nz/67020844 Colliers as sole agents, have been appointed to market for sale Unit 3, 26 Glenda Drive, Queenstown. Introduction Data room documents available: • Information Memorandum • Certificates of Title and Interests • Land Information Memorandum • Body Corporate information • Pre Contract Disclosure Statement All enquiries, requests for information and arrangements to undertake inspections in relation to this opportunity are to be directed to the listing agent below. Steve McIsaac +64 21 680 304 steve.mcisaac@colliers.com Barry Robertson +64 27 433 5941 barry.robertson@colliers.com
Executive Summary 3 Investment Highlights 4 Location 7 Queenstown’s Industrial and Commercial Market 10 The Property 12 Floor Plans 14 Zone 17 Record of Title 18 Due Diligence 21 Contents
Executive Summary
ADDRESS Unit 3, 26 Glenda Drive, Frankton, Queenstown
VENDOR Energy Storage and Management Services Limited
RECORD OF TITLE 820721
LEGAL DESCRIPTION
UNIT 3 with Accessory Units (AU) 3A 4A DP 520415 plus - HAVING 1/8 SH IN AU 5A, 6A, 7A DP 520415
TENURE Stratum in Freehold (Unit Title)
AREA Floor 160m² (subject to measure)
CAR PARKING 2 exclusive car parks
LOCAL AUTHORITY Queenstown Lakes District Council (QLDC)
ZONING
BODY CORPORATE
RATES
Frankton Flats E1 Industrial Zone
$3,018.80 plus GST
QLDC $4,422.28 including GST ORC $379.07 including GST
RATING VALUATION (2021) $1,360,000
SALES PROCESS For Sale at $1,195,000 plus GST, if any
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Investment Highlights
GOOD LOCATION
Well located in an established commercial precinct and adjoining major retailers
ROLLER SHUTTER DOOR
Convenient access and storage
AFFORDABLE PRICE BRACKET
Affordable asset in Queenstown
ONSITE PARKING
2 allocated car parks, plus share of common car parking
SIZABLE AREA
Floor Area 160m² (subject to measure)
LAYOUT & DESIGN
Good quality warehouse/office layout
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location indicative only
LOCATION
26 Glenda Drive, affectionately known as ‘M Space’ is a high profile site situated adjacent to the Mega Mitre 10 and Pak n’ Save super stores with frontage to Glenda Drive.
Access to Glenda Dr is via a large roundabout off Hawthorne Drive that connects State Highway 6 with Remarkables Park Town Centre, Whakatipu High School and the Airport to the South, as well as 5 Mile/Queenstown Central Shopping Centres some 500m to the West.
M Space’s geographically central location within the Whakatipu Basin also ensures it is easily accessible to Queenstown CBD, the key residential suburbs, Arrowtown and the Gibbston Valley.
Five Mile Hawthorne Dr State Highway 6 Queenstown Int Airport
26 Glenda Dr Location Indicative only
Queenstown’s Industrial and Commercial Market
Following a recovery year in 2021, the Frankton industrial property market is back to virtually nil vacancy and performing well under strong demand. There is a large number of industrial property tenants and purchasers looking for a foothold in Queenstown or Frankton but limited availability of premises to lease or purchase.
With no pipeline of new or existing industrial facilities entering the market that we are aware of, rents are quickly returning to pre-Covid levels – representing an uplift of anywhere between 5% and 10% compared with the low point in 2020.
A shortage of available industrial land, and increasing land values, are causing some yard-based businesses to relocate out to fringe areas as rents increase. The scarcity of land could also present a potential issue for rental car companies looking for storage space as they ramp up their operations back to full capacity.
The Property
The property forms part of a 15 unit business complex affectionately known as MSPACE, with allocated car parking. It benefits from excellent proximity to bulk retailers Mitre10 and Pak n’ Save, while the primary access is via Glenda Drive.
On offer is a 2 level unit, with workshop/warehouse on the ground floor and office space and amenities on the first floor. The upper level has a separate access to ground. MSPACE boasts excellent profile and frontage onto the trade hub of Queenstown, Glenda Drive. The two car parks (+ access to visitor parks) is a rarity in Frankton, further enhancing the product offering.
General Construction
The complex is built of reinforced concrete foundations, floor slab and concrete tilt-slab parapet walls, double glazed aluminium joinery window and shop fronts, steel roller shutter access doors and Hi-Five colour coated roof cladding over steel structure.
Layout and Fittings
Ground Floor
A workshop/ warehouse space with approximately 3m stud height with standard roller door access at the rear. Finishes are concrete floor with painted walls and ceiling, aluminum framed windows and door joinery.
Upper Floor
The upper floor has been designed as an office and is currently configured as open plan space with kitchenette and separate WC. Heating is via heat pump.
Car Parks
Two allocated parks to the front of the unit, with visitor parks close by.
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Floor Plans
GROUND FLOOR
FLOOR
FIRST
Zone
The property is zoned Frankton Flats B - Activity Area E1 in the Queenstown Lakes Council’s Operative District Plan.
PERMITTED ACTIVITIES: Include industrial and service activities, light industrial activities and offices ancillary to any permitted or controlled activity.
Record of Title
RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 UNIT TITLE Search Copy
Identifier 820721
Land Registration District Otago Date Issued 22 June 2018
Prior References 775963
Estate Stratum in Freehold
Legal Description Principal Unit 3 and Accessory Unit 3A, 4A and 1/8 share of Accessory Unit 5A, 6A, 7A Deposited Plan 520415
Registered Owners Energy Storage and Management Services Limited
Supplementary Record Sheet 820734
The above estates are subject to the reservations, restrictions, encumbrances, liens and interests noted below and on the relevant unit plan and supplementary record sheet 10746924.22 Encumbrance to Shotover Park Limited 21.4.2017 at 8:32 am 11026007.4 Covenant pursuant to Section 108(2)(d) Resource Management Act 1991 22.6.2018 at 3:46 pm (Affects Principal Unit 3 DP 520415)
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Due Diligence
To assist in the assessment of this offering, comprehensive due diligence information is available via a secure documents link. For access to all documents you will be required to register in the dataroom.
• Information Memorandum
• Certificates of Title and Interests
• Land Information Memorandum
• Body Corporate information
• Pre Contract Disclosure Statement
All enquiries, requests for information and arrangements for site inspections are to be directed to the Colliers sole agents:
Steve McIsaac
+64 21 680 304 steve.mcisaac@colliers.com
Barry Robertson
+64 27 433 5941 barry.robertson@colliers.com
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Unit 3, 26 Glenda Drive Queenstown FOR SALE at $1,195,000 plus GST, if any www.colliersotago.co.nz/67020844 Steve McIsaac +64 21 680 304 steve.mcisaac@colliers.com Barry Robertson +64 27 433 5941 barry.robertson@colliers.com DISCLAIMER: This Information Memorandum has been prepared solely for information purposes in order to assist interested parties in making an initial evaluation of the property and does not constitute advice nor purport to contain all of the information that a prospective purchaser may require. In all cases interested parties must conduct their own investigation and analysis of the property and the data set out in this Information Memorandum to satisfy themselves in all respects and not rely on the information in this Information Memorandum to make their purchasing decision. This Information Memorandum has been prepared in good faith and with due care by Colliers, but neither Colliers nor the Vendor accept responsibility hereunder for the accuracy of any part of the information contained in this Information Memorandum. Therefore the recipient/s of this Information Memorandum to the extent that they rely on the information contained herein do so entirely at their own risk. The Vendor and Colliers NZ Limited (and its brokers) expressly disclaim all liability for representations, express or implied, contained in, or for omissions from, this Information Memorandum or any other written or oral communication given to any prospective purchaser in the course of their evaluation and/or offer. This Information Memorandum does not constitute an offer for sale or purchase or otherwise. Please be aware that Mortgagee Sales can present more risk to purchasers, we recommend you take advice from your lawyer in this respect.
