Entry level - Investment opportunity


59 A and B Gorge Road, Queenstown

Asking Price NZD $1,600,000 + GST (if any)

Download Email
Entry level - Investment opportunity | 59 A and B Gorge Road, Queenstown | 4503534 |      X Close
Image
Description

Entry level - Investment opportunity


Investors will recognise the inherent value of this well-priced offering in such a prime location. The property is on two separate titles. The building on title B is a split-level warehouse design, which is currently occupied by gymnasium operator, Crossfit Queenstown. Title A is currently being used as car parking space, but it also has the potential to be redeveloped to add further value.

Gorge Road is an easy stroll from Queenstown's CBD, and is an area which is seeing strong development activity with several large-scale projects in the immediate vicinity, including The Alex apartments, Hylton Park Residences, the Ngai Tahu Property housing development Te Pa Tahuna and the planned Swiss-Belhotel and Residences, all reinforcing Gorge Road's credentials.

Appreciate what this rare offering can bring to the table today, while having confidence that the location has future staying power, with all the redevelopment likely to unlock its true value.

Tenancy Details: Fully-tenanted and currently returning net total rental of $61,000 per annum plus GST, with the potential to bring the rent to market levels through a pending rent review.

Property details:

Land Area: 59A 286sqm more or less

Land Area: 59B 399sqm more or less

Floor Area: 325sqm Approximately

Car Parks: 8

Zoning: 7B Industrial

John Archibald

Queenstown

Licensed under the REA Act 2008

View profile

59 A and B Gorge Road, Queenstown

Open in map

John Archibald

Queenstown

Licensed under the REA Act 2008

View profile