Location

Remarkables Park Town Centre Queenstown International Airport

Five Mile Shopping Centre Queenstown CBD

Queenstown Central Shopping Centre

Frankton-Ladies Mile Hawthorne Drive

Glenda Drive

The Location

The Queenstown Lakes District region offers unparalleled lifestyle in a unique environment, captivating national and international visitors alike and is home to a growing permanent population. On any given day there is an average of 70,000 people including visitors, swelling to 120,000 at peak visitor times.

The region benefits from growth in the resident population and growth in international and domestic visitors, driving visitor expenditure growth significantly higher than the national average. FiveMile is well positioned to capture this expected growth.

Five Mile Centre is located on the corner of Grant Road and Frankton Ladies Mile Highway (State Highway 6), Frankton, circa eight kilometres by road north of Queenstown International Airport. The FiveMile Centre is in the centre of growth in Queenstown. Topographical constraints restrict the ability to extend or expand the CBD. Congestion, parking and limited access are all significant challenges of a CBD location. Frankton is the fast growing alternative, fulfilling the need for accessible and dynamic places to shop, work and stay for locals and visitors alike.

The immediate area of Frankton comprises primarily of commercial and service retail provided through the subject Centre, the adjoining Queenstown Central and Remarkables Park together with industrial development situated on Glenda Drive. Remarkables Primary School and Wakatipu High School is situated a short distance away from the complex.

Queenstown International Airport is situated immediately to the south of the subject properties, providing the main tourism gateway to the Central Otago area.

The wider ‘Five Mile’ development comprises an integrated shopping centre in Queenstown that has been completed in various stages. Buildings One through to Six and Eight have been completed and are anchored by Countdown, The Warehouse, Noel Leeming, Briscoes and Rebel Sports, together with numerous specialty and large format retailers, and office units on the first level of Building One. Building Eight provides the premium office accommodation for the development. Buildings Seven and Ten are under construction and the Southern Precinct is proposed to be developed over the short to medium term to provide additional food and beverage focused retail and office accommodation together with a cinema.

Queenstown’s visitor growth rate of 10% is well above the national average of 4%. International visitors to New Zealand are projected to exceed 5 million in 2025 translating to a 34% growth in overall expenditure to reach almost $15b. Domestic tourism represents 70% of visitors to the Region and visitor forecasts remain strong despite the impact of Covid-19 to international tourism. Visitor growth is expected to continue with New Zealand set to capitalise on it’s reputation as a safe destination.