Terrace Junction - Queenstown Retail & Office ...
1092, Frankton Road, Frankton, Queenstown-Lakes
Price On Application
- Proposed Usage
- Floor Area
- 6175.00 m²
- Land Area
- 8752.00 m²
- Property ID
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.