Terrace Junction - Queenstown Retail & Office ...

1092, Frankton Road, Frankton, Queenstown-Lakes

Tender

Proposed Usage
Office
Floor Area
6175.00 m²
Land Area
8752.00 m²
Description:
Property ID
1bt4ml4

Terrace Junction - Queenstown Retail & Office Complex



Terrace Junction is a multi-tenanted retail and office complex strategically located at the gateway to Queenstown.

The property enjoys an exceptionally high profile location adjoining the Frankton roundabout which intersects State Highway 6 and Frankton Rd being the main arterial route in/out of Queenstown. Surrounding development in the Frankton Flats comprise a mix of commercial, retail and residential.

The complex was built in 2007/08 and is situated on two separate Freehold Titles with a combined land area of 8,752m². Both titles benefit from direct frontage and access to Frankton Road, while the larger of the two sites (Lot 2 DP 355881) adjoins the main forecourt area of the established BP Service Station.

The complex has a total floor area of 6,135m² which comprises two substantial buildings, Alta House and Aurum House which are connected via lifts and a basement car park providing 72 carparks. In addition, there are 40 external parks available for customer use on a non exclusive basis.

The complex professionally managed by MHP Limited and experienced commercial property manager with other assets in Queenstown.  The mult-tenanted occupancy arrangement helps spreads the investment risk for investors, with an annual rent roll of $1,411,399.00p.a. plus GST and outgoings (as at 27 April 2017 – noting this is subject to change given the short term nature of the carpark leases).

Terrace Junction has a total lettable area of 6,175m² with a complimentary tenant mix including anchor tenants Burger King, Westpac, Patterson Pitts Group, Housemart and ‘Two Wild Sisters’ Cafe.

This is a rare opportunity to acquire a quality commercial asset within the tightly held Queenstown market. For a detailed Information Memorandum please click on the 'SECURE DOCUMENT' tab on the right hand side or contact Mark or Rory.

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Frankton Area