Camp Street
29 Camp Street,Queenstown
Colliers as sole agents, have been appointed to market for sale 29 Camp Street, Queenstown.
This information Memorandum provides preliminary information to assist interested parties with their assessment of the property. Further information is available via an online data room which can be accessed upon registration.
www.colliersotago.co.nz/67039523
Data room documents available:
• Information Memorandum
• Record of Title
• Seismic works and strengthening summary
• Lease Documentation
• Land Information Memorandum
• Draft Sale & Purchase contract
Further information is available online with the secure dataroom. All enquiries, requests for information and arrangements to undertake inspections in relation to this opportunity are to be directed to the listing agent below.
Mary-Jo Hudson | Commercial Broker
Mobile: +64 21 667 880
Email: maryjo.hudson@colliers.com
Rory O’Donnell | Commercial Broker
Mobile: +64 27 445 3982
Email: rory.odonnell@colliers.com
Mark Simpson | Director | Commercial Broker
Mobile: +64 27 490 6394
Email: mark.simpson@colliers.com
This property is being offered For Sale by Deadline Private Treaty closing Wednesday 29 April 2026 at 4pm (unless sold prior).
For further information about the sales process please see page 25.
Executive Summary
Key property information
Address
29 Camp Street, Queenstown
Description
The property comprises an absolute prime, fully leased, freehold commercial asset in the heart of Queenstown’s CBD. With frontage to Camp Street, the property enjoys exposure to a high volume of passing vehicle & foot traffic. It is secured by a long lease to established fast food tenantMcDonald’s Restaurants (New Zealand) Limited. The building comprises a three level structure that was fully renovated in 2021. Seismic strength improved to 100% NBS at time of renovation.
Tenure
Freehold
Legal Description
Section 15 Block V Town of Queenstown
Record of Title
OT 219/234
Land Area
190m² (more or less)
Net Lettable Floor Area
Approximately 357m²
Zoning
Queenstown Town Centre Zone
Lessee
McDonald’s Restaurants (New Zealand) Limited
Rent Income
Current Contract Rent is $304,104pa + Opex + GST as at 1 March 2026 CPI Rent review on 13 July 2026. See Tenancy summary for further details.
Rateable Value (1 Sep 2024)
Land Value - $4,990,000
Improvements - $4,330,000
Total - $9,320,000
Sales Process
For Sale by Deadline Private Treaty closing Wednesday 29 April 2026 at 4pm (unless sold prior).
Investment Highlights
Scarce Property Holding
Rare opportunity to acquire a fully leased, freehold Commercial property in tightly held Queenstown CBD.
Prime CBD Location
Prime retail position with exposure to a high volume of passing vehicle and foot traffic.
Fully Leased - ‘A’ Grade Tenant
Long lease to fast food brand, McDonald’s. Current contract rent is $304,104pa plus Opex & GST. CPI review due 13 July 2026.
Strong Growth Region
Queenstown continues to be one of the fastest growing regions in NZ.
Queenstown Town Centre Zoning
Queenstown Town Centre Zone under the QLDC Operative District Plan
Built in Growth
Through a mixture of CPI and market rent reviews.
Renovated Building
Renovation completed in 2021 including improved seismic strength.
Property Overview
29 Camp Street is an absolute prime, fully leased, freehold commercial asset located in the heart of Queenstown CBD. The whole building is leased to renowned fast-food brand, McDonald’s Restaurants (New Zealand) Limited on a long term lease through to 12 July 2033 plus three further rights of renewal through to 12 July 2051. There is built in growth throughout the lease through CPI and market rent reviews. A three-level building with bold frontage to Camp Street having a total net lettable area of approximately 357sqm, comprising 155sqm on the ground floor, 145sqm on the mid floor and 57sqm on the top floor. The land extends 190sqm (more or less) on a single title. Positioned in the core retail precinct of the CBD, this area of downtown
showcases a quality mix of retail and hospitality businesses. Camp Street enjoys a high volume of passing foot and vehicle traffic.
The building was originally built circa 1991 and substantially renovated and upgraded for McDonald’s in 2021 including structural improvement of seismic strength to 100% NBS at that time (as at 2021). The building is very well presented to Camp Street and fully branded for McDonald’s.
The property is positioned within the Queenstown Town Centre Zone of Queenstown Lakes District.
Tenancy Summary
Lesse: McDonald’s Restaurants (New Zealand) Limited
Premises:
The building located at 29 Camp Street, Queenstown being all of the property contained Record of Title OT219/234.
Net Lettable Area: 357 sqm
Lease Commencement Date: 13 July 2021
Current Term Expiry: 12 July 2033
Rights of Renewal: 3 x 6 years from 13 July 2033 Final
Current Contract Rent:
Comments:
(CPI) 13 July 2027 ( Market)
pa Opex & GST as at 1 March 2026
Annual CPI reviews (excluding market review dates) capped at 5%. Market reviews every 6 years capped at 15% increase on annual rent immediately prior to market review.
Town Planning
Proposed District Plan
Zoning - Queenstown Town Centre Zone (QTCZ)
Precinct: Queenstown Town Centre
Key Site and Zone Standards (include but are not limited to)
Under the amended Height Precinct Map, the site is proposed to be included within Height Precinct 4 (refer to map on page 11). The proposed height rules that will apply to the site are as follows:
1. A 3m minimum building setback from all road boundaries shall apply to the area of any building that exceeds a height of 12m from the ground level, providing that the maximum height of the building is no greater than 16m.
2. For buildings greater than 16m in height, a 6m minimum building setback from all road boundaries shall apply to the area of any building that exceeds a height of 12m from the ground level.
3. A maximum height limit of 24m.
In late 2023, the Council notified the PDP Urban Intensification Variation (Variation).
The Variation seeks to implement Policy 5 of the National Policy Statement for Urban Development (NPS-UD), which directs councils to enable more height and density in certain locations. The Variation also aims to implement the wider directive of the NPSUD, to ensure well-functioning urban environments that meet the changing needs of our diverse communities and future generations.
The key implication for the QTCZ from the Variation is that the Council is seeking further development intensification for parts of this zone, over and above the current planning provisions. Increased building heights is the key planning tool in terms of increasing intensification within the QTCZ.
The Variation is seeking to amend the QTCZ Height Precinct Map, with the revised map below:
Location
29 Camp Street is situated on the northeastern side of Camp Street within the core retail precincts of Queenstown’s downtown area. This prime retail sector is bordered by Camp, Shotover, Rees and Ballarat Streets. The core retail area enjoys the highest foot traffic and rents; it showcases Queenstown’s premier retail mix comprising an impressive range of hospitality businesses together with national and international retail brands. The ‘Village Green’ park located on the corner of Camp Street and Ballarat Street provides an attractive ‘green space’ close by.
Camp Street is the link road at the northeastern end of the prime retail precinct, connecting Isle Street through to Earle Street. The subject property enjoying exposure to a high volume of passing foot and vehicle traffic.
Kerbside parking plus dedicated parking areas close by on Athol Street, Stanley Street, Shotover Street, Church Street, Man Street and parts of Camp Street.
Queenstown Lakes District Council has completed the first two stages of a major upgrade to the roading and walkways of the downtown area. This project improving access into the CBD, as well as enhancing pedestrian and vehicle movements through the Town Centre.
Queenstown International Airport is located on the Frankton Flats approximately 8km to the northeast. Dunedin is approximately 280km to the southeast and Invercargill, 190km to the south.
Queenstown ranks as New Zealand’s most popular tourist destination hosting around 3 million visitors per annum comprising a mix of national and international guests.
The Queenstown Lakes District continues to be one of the fastest growing regions in New Zealand. The current population of the Queenstown Lakes District is around 47,800 residents (2023 Census) up 22.1% since 2018. The population of the District swells to around 120,000 at peak time during the year.
Ballarat Street
Camp Street
Rees Street
Shotover Street
Beach Street
Stanley Street
The Building
The building was originally constructed circa 1991 comprising three levels of commercial space. The total net lettable floor is approximately 357sqm comprising the following:
Ground floor Retail - McDonald’s restaurant 155sqm
Mid Floor - McDonald’s kitchen, production area & chillers 145sqm
Top floor - McDonald’s storage and staff room 57sqm
The building was substantially renovated and upgraded in 2021 for McDonald’s as the new Tenant. Works included improvement of the seismic strength of the structure to 100% NBS as of 2021. There is a passenger lift within the building operating between ground and mid floor. Renovation works in 2021 included replacement of the lift car within the existing lift shaft. McDonald’s have substantially invested in their fitout of the building, all of which is owned by the Lessee. The Tenancy is essentially leased as a bare shell with toilets and lift noted in the lease as Landlord’s fixtures and fittings. There is a requirement for the Lessee to remove all their fixtures, fittings, plant and equipment at end of the lease.
Construction of the building comprises reinforced masonry block walls on a reinforced concrete slab on grade. Additional steel work added to the structure in 2021 as part of renovation works. Stahlton ribbed floors and roof of corrugated iron plus Butynol, reinforced to accommodate a deck for mechanical plant.
The architecture of the building together with McDonald’s branding colours and signage of the exterior presents a very dominant frontage and profile to Camp Street.
Queenstown Commercial Market
Demand for town centre retail space remains strong and there is virtually no retail vacancy in the prime CBD retail precinct. As a result, rents have remained firm, and we have seen a rise in retail rents in recent years. With the increase in tourism numbers to Queenstown, downtown hospitality, tourism and retail businesses are performing strongly compared to earlier post Covid years.
Given the tight condensed CBD market, town centre properties have historically changed hands at very low yields, sharper than in most other main centres and reflecting the premium placed on central Queenstown property and the growth it has consistently experienced over time.
There have been three recent sale transactions in the CBD during the last 6 months which is unusual for the downtown area. Pricing of these three sales all transacted over $18 million and at yields ranging from 3.4% - 4% on passing
rent. Commercial properties with a lower quantum of value may transact at even sharper yields given the wider pool of potential buyers in the market.
TRENDS & PROJECTIONS
• Continued strong demand for prime space in the CBD suitable for retail, tourism or hospitality use.
• Prime CBD retail assets remain in high demand.
• Despite a softening office market, the CBD still remains a strong part of the retail, hospitality and tourism sector for the region with hotel occupancy and room rates continuing to strengthen.
RECORD OF TITLE
UNDER
LAND TRANSFER ACT 2017 FREEHOLD
Limited as to Parcels
Guaranteed Search Copy issued under Section 60 of the Land Transfer Act 2017
Identifier OT219/234
Land Registration District Otago
Date Issued 21 May 1927
Prior References DI S135
Estate Fee Simple Area
190 square metres more or less
Legal Description Section 15BlockVTownofQueenstown
Registered Owners 29 CampStreetLimited
Interests
Transaction ID8352115
Client Referencecward017
Deadline Private Treaty Sales Process
This property is being offered For Sale by Deadline Private Treaty closing Wednesday 29 April 2026 at 4pm (unless sold prior).
A deadline sale is the process of purchasing real estate through confidential submitted written offers. If you want to buy a property by deadline sale, you prepare your best offer and send it to the vendor’s Agent (Colliers) to consider alongside any other offers the vendor receives at any point in the deadline sale campaign.
The property is offered for sale with no price, with a deadline by which offers need to be submitted on the basis that the vendors reserve the right to accept an offer at any time before the deadline sale closes.
Buying by deadline sale is a relatively simple process, with advantages for the purchaser as well as for the vendor. However, it’s not simply a matter of turning up on the day and writing down what you’d like to pay. Do full due diligence early to know your rights and obligations and to ensure you feel comfortable with the process.
We summarise a list of key things you’ll need to do before submitting an offer.
• Arrange finance. You need to be comfortable with the level at which you’re offering. It’s fine to put a finance clause into the contract but bear in mind that a vendor may favour the most straightforward offer on the day.
• Read the contract. The ‘Sale and Purchase Agreement’ is the contract signed by the potential purchaser at the time of submitting a deadline sale offer. If your offer is accepted, it will then be signed by the vendor and become a binding contract. It contains a legal description of the property and terms of settlement. We recommend you engage legal advice before presenting an offer.
• Know the value. If you have been studying the market, you may have a good idea of what the property is worth. If you need help, your real estate Sales Consultant can refer you to similar properties which have sold recently that are a good comparison. Otherwise, you could arrange for an independent valuation.
How to make an offer:
• Know the process. Talk to your Colliers Agent about exactly what will happen on and before the deadline sale closing day.
• Talk to your Colliers Agent when formulating your offer. They can assist you in looking at comparable sales and provide information enabling you to make an offer you’re comfortable is the current market value.
• Consider your conditions carefully. Where possible it’s best to minimise the conditions on a deadline sale offer, however it’s also advisable to not spend a large amount in advance when there is a chance your offer may not be selected. Balance is the key.
Offers to be submitted to Colliers Sole Agents by 4pm, Wednesday 29 April 2026 (unless sold prior).
Due Diligence & Data Room Access
Due diligence material is available for download from a secure electronic data room managed by Colliers, Queenstown (Colliers). Information updates may be posted to the data room from time to time so please ensure you refer to the Colliers data room for the most up to date property information.
All enquiries, requests for information and arrangements for site inspections are to be directed to the Colliers sole agents:
Mary-Jo Hudson +64 21 667 880 maryjo.hudson@colliers.com
Rory O’Donnell +64 27 445 3982 rory.odonnell@colliers.com
Mark Simpson +64 27 490 6394 mark.simpson@colliers.com
Mary-Jo Hudson | Commercial Broker
Mobile: +64 21 667 880
Email: maryjo.hudson@colliers.com
Rory O’Donnell | Commercial Broker
Mobile: +64 27 445 3982
Email: rory.odonnell@colliers.com
Mark Simpson | Director | Commercial Broker
Mobile: +64 27 490 6394
Email: mark.simpson@colliers.com
Otago Realty (NZ) Limited. Licensed under the REAA 2008.
36 Grant Road, Building 8, Level 1 Frankton, Queenstown 9300, New Zealand
+64 3 441 0790
colliersotago.co.nz
DISCLAIMER: This Information Memorandum has been prepared solely for information purposes in order to assist interested parties in making an initial evaluation of the property and does not constitute advice nor purport to contain all of the information that a prospective purchaser may require. In all cases interested parties must conduct their own investigation and analysis of the property and the data set out in this Information Memorandum to satisfy themselves in all respects and not rely on the information in this Information Memorandum to make their purchasing decision. This Information Memorandum has been prepared in good faith and with due care by Colliers, but neither Colliers nor the Vendor accept responsibility hereunder for the accuracy of any part of the information contained in this Information Memorandum. Therefore the recipient/s of this Information Memorandum to the extent that they rely on the information contained herein do so entirely at their own risk. The Vendor and Otago Realty (NZ) Limited trading as Colliers (and its brokers) expressly disclaim all liability for representations, express or implied, contained in, or for omissions from, this Information Memorandum or any other written or oral communication given to any prospective purchaser in the course of their evaluation and/or offer. This Information Memorandum does not constitute an offer for sale or purchase or otherwise. Please be aware that Mortgagee Sales can present more risk to purchasers, we recommend you take advice from your lawyer in this respect.