Our Response to COVID-19
Read More
News

Motel property rare offering

By Ellie Stevenson

A premium Queenstown motel property is on the market for the first time in 25 years.

By the Frankton Road gateway to the CBD, family-owned-and-managed Queenstown Motel Apartments is for sale by tender, closing November 8.

What’s reasonably rare is that the land, the buildings and the business are selling as one.

Dianne and Peter Smith were already established moteliers when they bought FAB Accommodation in 1993, which they upgraded and renamed Alpha Lodge.

Eleven years later, they built 18 new studio apartments, for close to $2 million, retained six motel units and management quarters and renamed their complex Queenstown Motel Apartments.

“They just feel the time’s right for them to move on,” says Ray White Queenstown co-owner Cameron Reed, whose office is marketing the property alongside Ray White Arrowtown.

“It has been beautifully run for the last 25 years.

“They [including daughter Vanessa and son Hartley] take care of it like it’s their own home.”

Occupying 1872 square metres of high-density freehold land, the complex has major development potential, Reed says.

“Under the proposed district plan, you can have 70 per cent site coverage, and they’re nowhere near that, and a height limit of 12m. I think someone’s going to come in and buy it and continue to run it as is, and then at some time it will be redeveloped.

“We think there’ll be a lot of international and national interest.”

Reed says the price will reflect the value of the land, buildings and the business’ book value, along with the Queenstown factor.

Mountain Scene – 8th October 2018

Up to Date

Latest News

  • Iso-vival Guide 2020 – Part 1

    At a loss as to how to spend your days for the next few weeks? We’re here to help! Our Iso-vival Guide will give you some inspo on how to pass the time and have some fun with your iso-buddies. Stay safe, stay home. Friday Night – Iso-date Night: Listen … Read more

    Read Full Post

  • Slice of Paradise for sale for first time in 68 years

    Overlooked by towering mountains like Mt Earnslaw, it’s featured in almost 20 movies and is used for about 10 TV commercial shoots a year. Sir Ian McKellen, who starred as Gandalf in one of those movies, The Lord of the Rings, calls it his favourite place on earth. In the … Read more

    Read Full Post