The Landing, opposite Remarkables Park, was developed by Queenstown-based couple Di and Lindsay Williams, of Savanna Group, who were also behind the development of the Terrace Junction complex, beside the BP petrol station, also at Frankton.
Terrace Junction, which opened in 2009, was sold at auction by the couple last year.
The Williams' purchased the site for The Landing from Shotover Park, owned by the Porter brothers - the first store opened its doors in December 2014.
The 3160sq m of retail space subsequently developed is spread over three separate buildings, housing 17 tenants, on 10,282sq m of freehold land, with 110 car parks.
Official land registry records show the last official sale price was $5.65 million in 2013 while the latest rating valuation is $22.7 million, as of June 2017.
The entire complex, which had a 100% new buildings standards rating, was being marketed for sale by Bayleys Queenstown through expressions of interest.
David Gubb and Steven Kirk, of Bayleys Queenstown, said the tenancies had a weighted average lease term of almost four years.
``Diversity of non-competing businesses ... combined with a long-term tenancy schedule, ensures this is an attractive split-risk investment opportunity,'' Mr Gubb said.
Tenants include Odelay cafe, Zambrero, Neat Meat butchery, Girl Next Door fashion, Redcurrant, Queenstown Interiors, Outdoor Concepts, Snap Fitness and Remarkable Physios.
Mr Kirk said the Remarkables Park area surrounding The Landing was experiencing ``considerable growth'' from ongoing construction activity and the shopping centre held a ``strategic, long-term position in this booming retail part of Queenstown''.
Development in the area included the recently-completed Ramada Hotel, 127-apartment Wyndham Garden Hotel and new Wakatipu High School; the under-construction 230-unit Toru Apartments and the new Ramada Kawarau River Hotel and Apartments, scheduled for 2019.
A resource consent application was also lodged in January for a 46ha subdivision at Remarkables Park enabling a mixed-use development to incorporate mixed-density residential development, tourist accommodation and leisure activities.
Offers on The Landing close on October 11.
