JLL and Colliers Otago are pleased to offer for sale, Upper Village, a recently built retail and entertainment centre prominently located in the adventure capital of the world, Queenstown, New Zealand.
Upper Village is an architecturally designed hub for retail and entertainment attracting thousands of local patrons and international tourists daily. Positioned on an elevated site featuring views over Queenstown and the surrounding alpine landscape, including the Remarkables mountain range. Upper Village is strategically located only 400m from the town centre and 150m from the iconic Skyline Gondola, offering unparalleled accessibility and exposure to tourist travelling on Brecon Street.
This 4,836sqm retail centre boasts an unrivalled tenancy profile, comprising seven international tenants and one prominent local business. The tenants include King Pin, owned by global entertainment powerhouse TEEG, Wahlburgers (owned by the Wahlberg brothers), Miss Ritas Cantina (owned by the established Future Hospitality Group) Max Brenner (owned by Arnold Vitocco) and the global gelateria brand Anita Gelato (owned by Tamir Hakin) to name a few.
Key Highlights
• Exceptional income security via 6.1-year WALE (by income)*
• Estimated fully leased net operating income of $3,316,819 plus GST per annum
• No immediate capital expenditure and significant depreciation benefits
• Situated on an elevated 3,285* square metre allotment
• Dominant local economy with international visitors forecasted to triple in the next 10 years.
The Investment opportunity is being offered for sale by way of international expression of interest, closing Monday, 4th of March 2024, at 4pm (NZST).
For more information about the Upper Village opportunity, please contact the joint sole agents.
Harry Fergusson of JLL at M +64 27 844 9336
Jonathan Ogg of JLL at M +64 21 909 951
Rory O’Donnell of Colliers at M +64 27 4453 982
Mark Simpson of Colliers at M +64 27 4906 394