Jean-Pierre Fourcade, who bought the side-by-side Winnies and Madam Woo buildings in 2017, has added Eureka House for $19,156,950.
The property includes the two-level Mall-facing Eureka House, dating back to 1864, just after Queenstown was settled, and three more recent buildings straddling an arcade going to Searle Ln.
Tenants include Captains Restaurant and Crew Room nightspot in the first building and three bars — Bardeaux, Habana and Birdy.
Fourcade’s Arrowtown-based lawyer Steve Rutherford says his client is very happy with his first Mall buildings.
"This is an addition to that portfolio, and he just wants to have a long and harmonious relationship with the tenants and with Queenstown generally."
Location was a primary factor behind him buying Eureka House, Rutherford says — "he likes The Mall, he likes the proximity to the lake and Rees St and Eichardt’s [Private] Hotel".
"He loves historic buildings and wants to keep them and preserve them — there’s no future development plans, he’s all about preserving the character."
Fourcade also likes the fact the property’s fully let, Rutherford adds.
"It’s returning a decent rent income, the tenants all seem like good operators, so it’s just struck us right from the beginning as a good investment."
Listed for sale by Queenstown Colliers commercial brokers Mark-Jo Hudson and Rory O’Donnell, the property was formerly owned by a local family partnership.
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