An exclusive nine-unit boutique hotel and apartment complex on a prime elevated site overlooking central Queenstown and Lake Wakatipu is available for purchase.
The property is being marketed for sale by Colliers on behalf of Diana Matchett and Colin Gower of BDO Christchurch, joint receivers and managers of Queenstown Views Villas Limited and Carlin Hotel Property Management Limited (both in receivership), together with Pablo (Aust) PTY Limited.
Located at 43 Hallenstein Street, The Carlin Hotel was completed in early 2022, adding to Queenstown’s luxury accommodation market.
It comprises nine individual unit titles with 16 rooms across seven levels, as well as a restaurant and bar, gym, and basement car parking.
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The property has a total building area of approximately 1,600sq m on 625sq m of land that is zoned High Density Residential under Queenstown Lakes District Council’s Operative District Plan.
It is being offered to the market for sale with vacant possession and comes inclusive of fit-out and chattels, with the nine individual unit titles allowing multiple ownership options.
Colliers Queenstown Brokers Mark Simpson and Barry Robertson have been exclusively appointed by the receivers to market the property for sale by deadline private treaty closing at 4pm on Thursday 8 August, unless sold prior.
The apartments range in size from 50sq m to 103sq m and are configured into a mixture of one and two-bedroom suites with large terrace areas.
Many of the units have their own unique qualities and layouts with the Eagles Nest penthouse suite also having access to a 48sq m rooftop terrace complete with spa and outdoor firepit.
The completed development required extensive excavation and retaining to support the building, with the resulting elevation and central position providing dramatic views over central Queenstown, Lake Wakatipu, and the surrounding alpine landscape.
Simpson, Director at Colliers Queenstown, says this is a premium accommodation asset in a highly sought-after location.
“It sits overlooking the centre of Queenstown and with the property being held in separate unit titles, it will provide a multitude of ownership options for prospective investors and occupiers to consider,” Simpson says.
“The units could be purchased individually, or in one line, with vacant possession allowing immediate occupation.”
The population of the Queenstown-Lakes District has surged during the past five years with Census data noting a rise of 22.1 per cent between 2018 and 2023.
Long established as a popular four seasons tourism resort destination, Queenstown is continuing to grow and attract interest from visitors to make the most of its stunning alpine environment, bike trails, adventure attractions, golf courses, and vineyards.
Robertson, Tourism Development and Business Broker at Colliers Queenstown, says the area is experiencing a resurgence since the Covid pandemic that is contributing to an ongoing need for premium-quality accommodation.
“The North American and Asian luxury travel markets are flowing back into Queenstown. Room tariffs and occupancy have continued to strengthen, surpassing pre-Covid levels,” Robertson says.
“Data from Infometrics notes that GDP grew provisionally by 3.8 per cent in the year to March 2024 for the Queenstown-Lakes District, well ahead of the national figure of 0.2 per cent. This high-quality property represents the opportunity to secure a stake in the Queenstown market and its future tourism growth.”
- Supplied by Colliers
