Welcome
If you haven’t been involved in an auction 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 an auction is generated.
As the property is being marketed and potential buyers are being taken through, the agents listen carefully to the responses of the interested parties and their feedback on the value of the property – after all, buyers who are actively in the market, comparing and contrasting properties every day, generally have very valuable opinions on what the property is worth. The Sales Consultants will then take this feedback to the vendor.
For this reason, we ask that all interested parties view the property with an open mind and always take time to indicate to the Sales Consultant where in the market they believe the property will sell. Potential purchasers should never feel embarassed, as there really are no right or wrong answers – the value of a house is what the market is prepared to pay at that time.
Once the buyer feedback is communicated to the vendor and as the campaign reaches a close prior to the auction, the Sales Consultant will discuss the value of the home with the vendor and set a reserve price. The reserve price for the auction is never set in advance, only in response to the feedback from the marketing campaign.
We hope this has provided you with some insight into the auction process.
Thank you for your interest in this property.
Welcome to the Colliers Auction for Drive
Contemporary Living with Breathtaking Views
69/8 EDINBURGH DR, QUEENSTOWN
Floor Area: 120 m²
3 2 1
Nestled on Queenstown Hill, this immaculate, newly renovated townhouse captures sweeping views of Lake Wakatipu, Walter and Cecil Peak – just to name a few!
With a perfect blend of modern design, comfort, and privacy, it enjoys a prime position in one of Queenstown's most sought-after hillside locations.
Thoughtfully laid out over four levels, the home greets you with a sleek, contemporary kitchen that seamlessly flows into an open-plan living and dining space. Double glazing throughout and a heat pump ensures your comfort, no matter the season.
The two lower floors offer two generously proportioned double bedrooms, one with an ensuite for an extra touch of privacy. Full laundry facilities are cleverly tucked away in the hallway.
With easy access to both Queenstown and Frankton, this townhouse strikes the perfect balance between privacy and convenience. Whether you seek a peaceful sanctuary or a base to explore Queenstown, this property offers it all.
Opportunities to own a unit in this area are few and far between. With its stunning views, exceptional comfort, and unbeatable location, this is an opportunity you won’t want to miss. Don’t let the chance to invest in this Queenstown gem slip away—make it yours today!
69/8 Edinburgh Drive, Queenstown
QLDC: $3,811.10 per annum
ORC: $451.54 per annum
$1,090,000
120m² more or less
1999
Plaster
Imitation timber, carpet
Aluminium joinery, double glazed
Electric
Heat pump
Ceiling
Sheltered, private South, west
Cupboard
Lake, mountain
$900- $1,000 p/w
•
Other Information
The following information is also available for this property – contact us for your copy.
•
LIM Report (Land Information Memorandum)
Record of Title
Floor Plans
Rental Appraisal
Pre-contract Disclosure Statement
Building Report
Indicative Floor Plan
Suburb Information
Queenstown Hill offers exceptional views that reach out across Lake Whakatipu, Cecil and Walter Peaks and Ben Lomond. Homes are consistently in demand for both purchase and rent, with tenants ranging from high-end holidaymakers and local professionals to ski-season workers.
The lower levels of Queenstown Hill contain an abundance of housing, turning into pine-covered hillsides as more altitude is gained. A popular local walk is the Queenstown Hill track, leading walkers up to the Basket of Dreams sculpture with its awe-inspiring views.
Rental Appraisal
TO WHOM IT MAY CONCERN
Monday14thApril2025
68/9EdinburghDrive, Queenstown
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 propert managers 24/7
Proactive communication
PROPERTY DESCRIPTION
Three-bedroom, two-bathrooms split over four levels
Heat-pump and double glazed windows
Incredible panoramic views of Lake Wakatipu and surrounding mountains
Highly sought after location, within walking distance to central Queenstown
RENTAL RETURNS
We believe that a weekly rental return is estimated to be between
$900 & $1,000 per week.
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
69/8 EDINBURGH DRIVE, QUEENSTOWN
Identifier
LandRegistrationDistrict DateIssued
PriorReferences
OT18C/906
Estate LegalDescription
RECORDOFTITLE UNDERLANDTRANSFERACT2017 UNITTITLE SearchCopy
OT19A/459 Otago
02August1999
OT19A/464
RegisteredOwners
Patricia Claire Ellis as to a 1/2 share PenelopeJaneEllisastoa1/2share
Theaboveestatesaresubjecttothereservations,restrictions,encumbrances,liensandinterestsnotedbelowand ontherelevantunitplanandsupplementaryrecordsheet
StratuminFreehold Unt8andAccessoryUnit8and25and 1/2shareinAccessoryUnit16Deposited Plan27292 5246982.3Mortgageto(now)WestpacNewZealandLimited-11.6.2002at9:11am 6032378 1VariationofMortgage5246982 3-8 6 2004at9:00am
One team: accelerating success
FRED BRAMWELL
Director, Sales Consultant
021 435 694
HUGH CLARK
Sales Consultant 027 223 2997
RICHIE HEAP
Sales Consultant 021 500 815
RAYLENE MCQUEEN
Business Manager 021 045 0813
JESSE JOHNSTON
Sales Consultant 027 733 7755
STEPHEN HEBBEND
Sales Consultant 021 453 881
ANNA WANG
Sales Consultant 027 788 8696
MARIA WYNDHAM
Sales Consultant 021 997 522
VERA STEWART
Sales Consultant 021 059 6266
BRENDAN QUILL
Sales Consultant 021 416 785
MEI CHEN
Sales Consultant 022 075 9847
VICKY TOMICH
Sales Consultant 021 0265 5093
CANDICE BUCHANAN
Sales Consultant 027 630 1283
NICOLE BELL Sales Consultant 021 898 326
ZACH HYLTON
Sales Consultant 027 369 6805
DOUG REID
Sales Consultant 027 431 3278
PAULA GILMARTIN
Sales Consultant 027 376 4395
EOIN MILES
Sales Consultant 027 777 2006
POPPY JEFFERIES
Sales Consultant 022 043 9935
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.
Buying at Auction
Buying at auction is a relatively simple process, with many advantages for the buyer as well as for the seller. However, it’s not simply a matter of turning up on the day and catching the auctioneer’s eye. You do need to do your homework so that you know your rights and obligations, and so that you feel comfortable bidding on the day.
To help you better understand how auctions work, we’ve put together a list of key things you’ll need to do before you raise your hand on auction day.
Register your interest
You must let the Sales Consultant know if you are interested in buying the property. That way, if another buyer makes an offer before the auction, the Sales Consultant will be able to contact you.
Arrange finance
This is very important. Buying at auction is unconditional – there is no ‘subject to finance’ clause – so you must be sure you are able to fully finance the home if you are the successful bidder. Most lenders will pre-approve your bid, up to a certain price. If you are the successful bidder you will also need to pay a deposit (usually 10% of the sale price) on the day of the auction.
Read the contract
The ‘Particulars and Conditions of Sale’ is the contract signed by the seller and the successful bidder. It contains a legal description of the property, a list of chattels, terms of settlement and the possession date. Obtain a copy before the auction and get your lawyer to check it for you.
Make any changes
If the terms of the contract don’t suit you, you may be able to change them. For example, you may be able to extend the possession date or pay a lesser deposit. You must let the Sales Consultant know before the auction, and obtain the seller’s agreement in writing.
Carry out all checks
The onus is on you, the buyer, to ensure that all checks have been carried out before the auction day. This includes LIM reports, builder’s inspection, valuation, etc.
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 Sales Consultant can refer you to similar homes which have sold recently that are a good comparison. Otherwise you could arrange for a valuation.
Know the process
Talk to the Sales Consultant about exactly what will happen on the day. You may like to attend a few other auctions before bidding yourself, to familiarise yourself with the process.
Once you’ve done all the groundwork, you can get ready to bid with confidence and enjoy the excitement of auction day.
FAQ’s
Can I make conditional bids?
An auction is based on an unconditional bidding process. This means that you are comfortable with your finance and the detail and condition of the property before you bid. There may, in some circumstances, be the opportunity to change certain terms and conditions such as the possession date or deposit amount, but this needs to be done prior to the auction along with your Sales Consultant, and must gain the owner’s agreement in writing.
What is a vendor bid?
In most auctions the auctioneer is given the right to bid on behalf of the vendor, to keep moving the bidding along if necessary. The auctioneer will always disclose this right to the room prior to the auction, and will always make it clear if the bid is a vendor bid. Vendor bids will only be entered up to the reserve price, once this is achieved the auctioneer will no longer accept anything other than live bids.
What does ‘passed in’ mean?
Passed in is when the property reaches the conclusion of the auction but the reserve price has not been reached. This means that the property is unsold.
Can I change my mind about a bid?
No bids can be retracted. Interested parties must be completely certain that this is the direction they wish to take, and that they are capable of completing the sale prior to bidding at auction.
If there are only vendor bids on the auction, is there any point in my bidding?
If there is no live bidding, negotiations will commence on the property with all interested parties, which may mean more competition and a multi-offer situation.
Will the auctioneer be in contact with the vendor during the auction?
Sometimes the auctioneer will break the auction to consult with the vendor. This may be regarding price, or the direction the auction is taking.
In all circumstances the auctioneer will make it clear to the room what stage the auction is at.
How do I bid?
We understand that bidding on an auction 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 bidding process works:
Feel free to start the bidding where you choose - making the initial bid can be difficult, but our auctioneer is trained in the process and understands where the bidding increments should be at every stage of the auction.
If you’re not in a position to start the bidding, make sure you come into it at a level when the figure is within your price range. It always pays to have a little room to manoeuvre, rather than waiting until you’re close to your limit.
Make your bids confident and clear - not only do other buyers realise that you’re serious about bidding, but it pays to ensure there is no chance the auctioneer can miss a last-minute bid. Try to keep the bidding spirited rather than hesitating, which can indicate to other bidders that you are close to your limit.
Understand that the auctioneer will ‘call’ the property three times as he or she is about to close the bidding. This is a clear signal to ensure you’ve put your best foot forward and are comfortable with the level of the bidding and the course of the auction.
Pre-auction offers
An auction is based on an unconditional bidding process. This means that you are comfortable with your finance and the detail and condition of the property before you bid. There may, in some circumstances, be the opportunity to change certain terms and conditions such as the possession date or deposit amount, but this needs to be done prior to the auction along with your Sales Consultant, and must gain the owner’s agreement in writing. All pre-auction offers must be unconditional.
The offer is prepared on a Colliers Auction Particulars & Conditions of Sale with the following time clause added as a special condition:
The purchaser agrees that this offer: a) shall remain open for acceptance by the vendor; b) may not be withdrawn or revoked by the purchaser until 6pm on the second working day after the date on which the offer has first been presented.
If the offer is not at an acceptable level, no counter offer is made, it is merely communicated to the Purchaser that at that stage the offer was not at a level that would stop the auction.
If the offer is at an acceptable level, all other interested parties are then contacted and told that an unconditional offer to purchase the property, at a level that is acceptable to the Vendor, has been recieved
If it is established that there are no other interested parties then – at the Vendors’ discretion – the property can be sold at this point.
If other registered buyer/s wish to make an offer we will bring the auction forward. If the auction is brought forward, the opening bid announced will be the purchase price specified in the instigating offer already made, which will also be the declared reserve price.
This should all be done within two working days, after the details of the offer have been communicated or presented to the Vendor.
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