Part 38 Ballarat Street (The Mall), Queenstown
Information Memorandum
For Sublease - Offers by Deadline Date closing 8 March 2023
Accelerating success.
Leasing Process
Colliers has been appointed to market the Tenancy for Sublease at 38 Ballarat Street, Queenstown.
For Sublease - Offers by Deadline Date, closing 8 March 2023.
Please to contact Mary-Jo Hudson if you require additional information or assistance.
This Information Memorandum (IM) provides preliminary information to assist interested parties with their assessment of the tenancy for sublease. All enquiries, requests for further information and arrangements for site inspections to be directed to the sole agent, Colliers:
Mary-Jo Hudson
Mob: +64 21 667 880 maryjo.hudson@colliers.com
Sublease offers to be emailed to Colliers sole agent at: maryjo.hudson@colliers.com by Deadline Date of 8 March 2023.
PART 38 BALLARAT STREET QUEENSTOWN
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“This is a rare opportunity to lease this absolute prime, high visibility retail tenancy on Ballarat Street (The Mall) in the heart of Queenstown CBD.”
location indicative only
Executive Summary
This is a unique opportunity to sublease a high visibility, retail tenancy, located in the heart of Queenstown CBD. The layout of the premise for sublease allows for frontage and entrance from both Ballarat Street and Camp Street.
Ballarat Street and Camp Street enjoy a high volume of passing foot traffic. Both streets are positioned within CBD Queenstown’s retail ‘Golden Square’, the prime shopping precinct bound by Camp Street, Rees Street, Shotover Street and Ballarat Street.
The tenancy is a Sublease from local Tourism business, Southern Discoveries Limited who have a Head Lease over the whole building and occupy the balance area not forming part of this Tenancy for Sublease.
The Tenancy for Sublease has a total floor area of approximately 108.30m².
The previous Tenant occupied the sublease Tenancy as a dine in and takeaway food business trading as ‘Hawker & Roll’. All the Fixtures, Fittings & Chattels (FFC) within the Tenancy for sublease belong to the former subtenant but available to purchase (if required). A full FFC list is included in this IM.
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Key Attributes
Absolute prime retail location in Queenstown CBD
Strong surrounding retail mix
High foot traffic position
Dual frontage to both Ballarat Street & Camp Street
Fully fitted out for food retail use. Conditions apply. Other retail uses also an option.
Opportunity to add outside dining space on Ballarat Street through seating licence with QLDC
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The Subtenancy
The Subtenancy is positioned within a commercial building located on the corner of Ballarat Street and Camp Street in Queenstown CBD. The subtenancy has dual frontage to Ballarat Street and to Camp Street, with Southern Discoveries Limited (the Sublandlord) occupying that portion of the building immediately on the corner.
The Subtenancy comprises a combined ground floor tenancy area of 108.30m², including Restaurant Space of 76.70m² facing Ballarat Street; plus Additional Area of 31.60m² facing Camp Street (see Floor Plan) . The Additional Area is open to the Southern Discoveries occupied area immediately adjoining. There is no dividing wall between Southern Discoveries and the Additional Area, however each occupant has their own defined area that they occupy, which in the case of this subtenancy is 31.60m². The Additional Area has a dedicated portion of the Camp Street frontage for branding & signage that is exclusive to the Additional Area of the tenancy for sublease, however the entrance is shared with Southern Discoveries on the Camp Street St side. See photos for details.
The Restaurant Space, with exclusive entrance door, faces directly on to Ballarat St together with outdoor seating area for two tables licenced directly from Queenstown Lakes District Council (QLDC). The Licenced area does not form part of the tenancy for sublease, it is a separate contract with QLDC.
The Restaurant Space is fully fitted out with Fixtures, Fittings, and Chattels (FFC) for a takeaway and/or dine-in food use. All FFC could form part of the Tenancy for sublease if required, otherwise all FFC can be removed. The FFC belong to the previous subtenant but available to purchase. Please state your requirement in your sublease offer. FFC list is included in this IM.
There is a single WC within the Restaurant Space of the Subtenancy that is shared with Southern Discoveries. In terms of new Sublease offers, the Head Landlord will consider the following options:
• A sublease of the existing subtenancy area comprising Restaurant Space + Additional Area (108.30m²).
• A sub lease of the Restaurant Space only (76.70m²)
• A sub lease of just the Additional Area only (31.60m²)
PART 38 BALLARAT STREET QUEENSTOWN 1731 1:50 Job Name: Job No: Sca e: Draw ng: Hawker & Ro l, Queenstown Concept Plan Date:28/02/19 Phone 03 474 2107 Contracto to check a d mens ons on s e Report any errors o he des gne Do not scale @ A3 Sheet 01 CONCEPT DESIGN V1 © Arch Design 2019 mai @arch des gn co nz 31 60 m2 G ease (e s S n (e s D W (e s S nk ex ) Sa e WHB ex ng e oca ed 39 41 m2 1 2 3 4 5 6 7 8 9 D i0 2 New Open ng Heatpump (ex st ng) 2 steps down G 01 Restaurant G 01a Cookline G.C01 Corridor G 03 Accessible Un sex G.02 Preparation Area G 02a Pot-wash G 0 2 b S t o r e G C02 Corridor G E 0 1 O u t d o o r S e a t i n g E X I T R ET i m b e r H g h S o o T a b l e s Southern D scoveries floor area Hawker & Rol D ning f oor area W x0 1 D x0 1 D io p H g h e a n e r H gh eaner H gh tab e H gh tab e H gh tab e Indicative plan only Floor Plan Restaurant Space Additional Area Indicative outline of the subtenancy NotIncluded 9
Proposed Sublease
Premises Part 38 Ballarat Street, Queenstown - comprising a total sublease area of 108.30m²
Head Landlord Park Centre Holdings Limited
Sub Landlord Southern Discoveries Limited
Security Guarantee Bank Guarantee required
Term From Commencement Date to 30 September 2027
Commencement Date By negotiation but available immediately
Right of Renewal 1 further term of 6 years from 1 October 2027 *
Final Expiry Date 30 September 2033 *
Proposed Annual Rent Minimum Annual Rent of $209,400 pa + Opex + GST for the total premises of 108.30m² **
Current Outgoings $1,505.29 per month + GST. Additional management fee of $1,500pa + GST.
Rent Reviews Market Review on 1 October 2023 and every 2 years thereafter in line with Head Lease.
Current Business Use Licenced food & beverage business; or other non food retail business.
* – Subject to the Sub Landlord renewing Head Lease.
** – If the Restaurant Space and Additional Area are subleased separately, the rent shall reflect a minimum rate of $1935/m² plus Opex + GST.
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“Dual frontage retail subtenancy with frontage and entrance from both Ballarat Street and Camp Street.”
Location & Retail Mix
The Tenancy for sublease is positioned within a largely single level commercial building on the corner of Ballarat Street and Camp Street. This is considered an absolute prime retail location in Queenstown CBD. Ballarat Street, also known as ‘The Mall’, is a pedestrianised street linking Camp Street with Rees Street and the Lakefront. Both Ballarat Street and Camp Street enjoy very high volumes of foot traffic. Camp Street provides for vehicles as well as pedestrians, with high volumes of passing vehicle traffic throughout the day. The roundabout at the top of Ballarat St, directly in front of this location, is a busy vehicle intersection however the single lane means traffic is moving relatively slowly and therefore enables good visibility to the subject tenancy, particularly the Camp Street side.
Ballarat Street and Camp Street are both positioned within CBD Queenstown’s retail ‘Golden Square’, the prime shopping precinct bound by Camp Street, Rees Street, Shotover Street and Ballarat Street.
There is a strong surrounding retail mix on both Ballarat Street and Camp Street including a wide range of fashion + takeaway or dine in hospitality businesses. Camp Street now hosts the newly refurbished O’Connell’s centre, which opened end of 2022, showcasing a large range of international retail brands within DFS T-Galleria on the ground and 1st floor; plus, the new food precinct called ‘Eatspace’ on the lower floor. See following page for Retail Mix details.
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Locations indicative only Sublease Tenancy Ballarat Street Camp Street 13
Title
Round Tables and Chairs
Fixtures, Fittings & Chattels List
Description
Wooden Tops Steel legs 3 tables 10 stools
Colored Stools 3
Trolley
CO2 System
Tiger Hot Water Heater
Red Steel
Soda stream Jolly Professional
Novo Coffee Machine Model: Novo 021
Delta Under Bench Chiller Model: 1500x600x950
Stainless Bench Wide with small sink
Waldorf Gas Grill
1500 wide
Waldorf Gas Deep Fryer Model: FN8226G
Commercial Steamer B+S brand Model: YCJSF-1HE 2018
Stainless Bench
With lower shelf
Moffat Turbofan Oven Model: E27M3
Eurochill 2 Door Stainless Freezer Model: ERE7
Dimplex Portable Air-conditioning Model: GDPAC12RC
Starline Commerical Dish Washer and
Return Bench Stainless Bench
Starline M2 (old model) Small bench
Grease Trap With sink
Chubb Safe Act?
Chest Freezer Digital
Stainless Bench Living and Co
Water Heater Stirrer Long with sink and shelf
Eurochill 2 Door Stainless Fridge Model: Water Heater Sirman brand
Stainless Wall Shelves Model: ERE9
Damaged Stirrers 6 assorted
Bug Zapper Roband Heat Lamp SV200 AUS
True Chiller Drawers Rentokill
Inset Bain Marie 4 drawers unknown model
Assorted Kitchenware
Rice Cooker
Unknown make or model May not be removable Serving trays Steamers Pots Assorted containers
Note: Fixtures, Fittings and Chattels belong to the former subtenant of the subtenancy. All Fixtures, Fittings and Chattels available to purchase. Indicative price is $20,000 plus GST. If Fixtures, Fittings and Chattels not required, they can be removed as a requirement of your sublease offer.
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PART 38 BALLARAT STREET QUEENSTOWN
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success. Mary-Jo
FOR SUBLEASE - OFFERS BY DEADLINE DATE closing
Sole Agent March 2023
colliersotago.co.nz/67022203
Hudson Colliers Queenstown +64 21 667 880 maryjo.hudson@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. Accelerating
