Combined, the sales — one commercial and one residential — total almost $80 million.
In both cases, the buyers are New Zealand parties.
In what is the largest local commercial deal in several years, two buildings in Frankton’s Five Mile shopping centre, housing anchor tenants Woolworths, Rebel Sport and Briscoes, have been snapped up for $49.2m.
The Five Mile parcel includes 13 tenants, spread over 9577sq m, whose combined rent is about $2.86m a year, plus GST and operating expenses.
Local Colliers director Mark Simpson, whose firm brokered the sale, said the buildings attracted interest from local, national and international — mostly Asian and Australian — investors.
From multiple bids, the successful buyers were a private group of New Zealand investors, he said.
Separately, a block of houses and apartments rising up from Queenstown’s CBD has sold for $30m-plus, making it potentially the largest residential sale in New Zealand over the past 12 months.
A New Zealander bought the 3689sq m site off Brunswick St, just a stone’s throw from the Lake Wakatipu shoreline and Steamer Wharf.
Myles Green, NZ Sotheby’s International Realty’s local projects and development manager, who brokered the deal with colleague Dave Fea, said the "absolute blue-chip" land parcel offered "a development opportunity which is well described as incomparable".
He said the successful buyer — "who recognised the unique nature of the property as a long-term asset" — was approached via a Sotheby’s database before the property hit the open market.
