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News Release


Investment opportunities available at Remarkables Park

JLL and Ray White marketing retail spaces below Ramada Hotel



Long term investment with development potential/new-zealand/en-gb/news/916/long-term-investment-with-development-potentialAUCKLANDLong term investment with development potential
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Ramada Queenstown 2_web.jpgInvestors who see the potential for growth in Queenstown have the opportunity to be part of the rapidly expanding community at Remarkables Park. 

The four-star Ramada Hotel & Suites opened in Queenstown in June 2016 on Hawthorne Drive. There are two retail investment opportunities remaining on the Ramada’s ground floor. These are being marketed by Chris Beasleigh and Ranesh Parmar of JLL and John Leith of Ray White Queenstown. 

Remarkables Park is a 150-hectare (370 acre) master planned resort and town centre development overlooking the Kawarau and Shotover Rivers, with panoramic views of the Remarkables mountains. 

“Remarkables Park Town Centre, Queenstown’s largest centre outside the CBD, attracts approximately 3.5 million visitors per annum. This successful development is fully zoned to more than double in size with provision for conferencing, resort, sport, recreation, residential and educational opportunities to further enhance and complement Queenstown’s already thriving resort community,” Leith says. 

“At the Ramada, Units 1 and 2 are being marketed as a combined investment opportunity totalling 146sqm,” Beasleigh says. “Unit one is tenanted by Aerodrive Car Rentals, with a six-year lease in place. It brings in a net rental of $32,000 a year. Unit two is available for lease.” 

“Units 5 and 6 have just sold as a combined investment opportunity at a 5% yield. These are both tenanted and total 131sqm. They will bring their new owner a net rental of more than $90,000 a year. 

“The other remaining opportunity is Units 8 and 9, which total 156sqm and are tenanted by Loan Market Queenstown on a six-year lease and a Specialist Eye Clinic on a five-year lease. They bring in a net rental of more than $88,000 a year.” 

Statistics New Zealand says the Queenstown Lakes District was the fastest growing territorial authority area in the year to June 2016, with a 7.1 percent population increase. The number of dwellings in the district increased by 20% between 2006 and 2013. The population has a higher median income than the national average, and a higher level of education. 

In 2015, tourism was the biggest contributor to the local economy, bringing in 31% of the Queenstown Lakes District’s GDP. There were 1.65 million passengers who passed through Queenstown Airport in the 12 months to June 2016, an 18 percent increase on the previous year. Of the passengers on international flights, 67 percent were Australian and 91 percent were either on holiday or visiting friends or relatives. 

“The region’s expansion is reflected in the various development projects that are under way. Resource consent has been granted for the Queenstown Convention Centre to be built on Mountain Ash Drive, adjacent to the Remarkables Park Town Centre. The new Wakatipu High School is being built as a result of a Public Private Partnership and is scheduled to open in Remarkables Park in January 2018,” Parmar says. 

“In the future, Remarkables Park Limited aims to create an environment where people can drop their children at school, go to work, do their shopping, take their children to an after-school activity and enjoy dinner in a restaurant, all without leaving the Remarkables Park Town Centre. There are also plans for a 9.8km gondola which would stretch from the Remarkables Park terraces across the Kawarau River to Queenstown Park Station and up to the snowline,” Parmar says.