Fantastic Long-Term Investment
Easy care investment property with a 30-year commercial guarante which is currently returning approximately a 4.5% net return. Located in one of Queenstown’s most active growth areas in regard to apartment and unit development. The La Quinta Hotel is located in Remarkables Park just a short walk to Queenstown Airport and has all amenities right on the doorstep for guests including shopping, restaurants, walking and cycling tracks and much more. The property is fully furnished and has a wonderful welcoming reception area and an onsite cafe and gym. This property is priced to sell and the market is on the move so prompt enquiries are recommended.
Key investment information:
• Commercial Guarantee: 30 years with review periods based on 15 + 5 + 5 + 5 years
• A 2% annual rental increase
• Currently returning a gross rent amount of $1,759.50 inc. GST per month (Approx. 4.5% net)
• Fully furnished studio apartment
• Consistent payments paid directly into your bank account on a monthly basis
• A management franchise with a proven international track record
• 10 days free use per annum for owners
Executive Summary
Address 110 LQ Apartments, 18 Mountain Ash Drive, Frankton
Rates QLDC: $3,298.00 per annum | ORC: $259.96 per annum
CV $300,000
Body Corporate
$3,116.04 per annum
Management summary In on-site management. Can be used for owners 10 days a year
Floor Area 30sqm more or less
Built 2020
Floor Coverings
Windows
Carpet, tiles
Double glazing, aluminium joinery
Heating Heat pump, under-tile heating in bathroom
General Features
Great central Frankton location, close to Queenstown International Airport
Furniture Fully furnished
Aspect East
Laundry Part of room/garage
Views Mountain
Other Information
The following information is also available for this property - contact us for your copy.
• Full Pre Contract Disclosure Statement
• Full title
• Last 12 months financial performance
• Body Corporate rules
• AGM minutes
• Chattels list
Frankton
Frankton was founded in 1863 during the gold rush, with the earliest of the residential housing built between 1910 - 1920. Most of the houses we see today were constructed in the 1990s, but the town still hides many historic gems scattered around the area. Frankton today is a very popular place to buy or rent due to its easy access to shopping, cafés and restaurants, excellent schooling of all levels, mountain views and yearround sun. Frankton is also home to the Remarkables Park Shopping Centre, Queenstown Central and Five Mile Shopping Centre and multiple supermarkets and big-box retailers, as well as a host of commercial and industrial amenities. Queenstown International Airport is also located here and Frankton plays host to the public transport hub, with Frankton Bus Shelter at the heart of the suburb. To top it all off, locals can enjoy Frankton Bay, which is an incredibly popular spot to relax or enjoy watersports in the warmer months. It is also a beautiful place to simply sit and take in the stunning views down the Frankton Arm of Lake Whakatipu.
RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 UNIT
TITLE
Search Copy
Identifier 955288
Land Registration District Otago
Date Issued 30 October 2020
Prior References 955257
Estate Stratum in Freehold
Legal Description Principal Unit 110 Deposited Plan 552045
Registered Owners
Jacqueline Siew Huan Campbell
Supplementary Record Sheet 967427
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 11557605.3 Encumbrance to Remarkables Park Limited - 19.9.2019 at 5:15 pm
Appurtenant hereto is a pedestrian right of way created by Easement Instrument 11882893.8 - 30.10.2020 at 1:10 pm
The easements created by Easement Instrument 11882893.8 are subject to Section 243 (a) Resource Management Act 1991
Client Reference csvendsen001
Meet our team.
Queenstown Residential
Fred Bramwell Director Sales Consultant 021 435 694
Brendan Quill Sales Consultant 021 416 785
Eoin Miles Sales Consultant 027 777 2006
Maria Wyndham Sales Consultant 021 997 522
Paula Gilmartin Sales Consultant 027 376 4395
Stephen Hebbend Sales Consultant 021 453 881
Zach Hylton
Sales Consultant
027 369 6805
Raylene McQueen Business Manager 021 045 0813
Candice Buchanan Sales Consultant 027 630 1283
Hugh Clark Sales Consultant 027 223 2997
Mei Chen Sales Consultant 022 075 9847
Poppy Jefferies Sales Consultant 022 043 9935
Vera Stewart Sales Consultant 021 059 6266
Anna Wang Sales Consultant 027 788 8696
Doug Reid Sales Consultant 027 431 3278
Jesse Johnston Sales Consultant 027 733 7755
Nicole Bell Sales Consultant 021 898 326
Richie Heap Sales Consultant 021 500 815
Vicky Tomich Sales Consultant 021 0265 5092
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.
ANTI-MONEY LAUNDERING
Proving your identity when buying or selling a house
From 1 January 2019, real estate agents are required to verify the identity of their vendors in accordance with Anti-Money Laundering legislation. In some situations, real estate agents will also be required to verify the identity of purchasers. If your real estate agent cannot verify your identity in line with the legislation, they will not be able to act for you.
Identity verification can take days and sometimes weeks if a Trust or company is involved, or where parties reside overseas.
The below gives an indication of some of the documents your real estate agent may ask you to present in person or as a certified document as part of this process:
Individuals:
Passport, NZ Firearms Licence or NZ Drivers Licence with another document such as a bank statement or statement issued by a Government agency. You will also need to provide a document with your residential address (for example, a utility bill).
Trusts:
The Trust Deed and, for all trustees and settlors, the information required for individuals as noted above, together with information regarding the Trust’s source of funds or wealth. Additional information may also be required for beneficiaries and appointers.
Companies:
Details of the company, together with the information for individuals noted above for every individual with more than a 25% shareholding, all individuals with effective control of the company and all individuals acting on behalf of the company. Information regarding source of funds or wealth may also be required.
Note: The above list is not exhaustive and is indicative only. Your real estate agent will assist you with the specific requirements in relation to your situation.
DISCLAIMER: The material and information contained herein is for general information purposes only and is not intended to form professional legal advice. REINZ does not accept liability for any claim or other action that may arise directly or indirectly from the use of or reliance on the material and information provided herein. REINZ recommends you seek independent legal advice if you are unsure of your legal position.
