In a fairly rare move, an accommodation property fringing Queenstown’s CBD — both land and buildings — is up for auction this month.
Amber Lodge Motel, on the corner of Gorge Rd and Turner St, is right by the exit of the new bypass route, terminating at the intersection of Henry St and Gorge Rd, which is due for completion late this year.
For sale with vacant possession and all fixtures and fittings in place, the motel was originally developed in the 1970s but been added to and renovated over the years.
It comprises front and rear two-level blocks with an estimated floor area of 507.5 square metres.
There are two two-bedroom units, one being the manager’s apartment, three one-bedroom units and seven studio units, six of them in the elevated rear block, and a guest laundry — though the motel’s presently closed for business.
According to Colliers’ information memorandum, ‘‘the property offers an average standard of motel accommodation commensurate with its age’’, but is still in a ‘‘tidy condition’’.
Local Colliers broker Alastair Wood, who’s marketing the property with colleague Mark Simpson, notes ‘‘it offers quite a bit of potential redevelopment-wise’’.
Under its current high-density residential zoning, it’s restricted to seven to eight metres high, but under a proposed zone change the maximum height of a new building’s 16.5m ‘‘so you double the redevelopment potential’’, Wood says.
Colliers points out the present upper level already offers good lake and mountain views, while the property, even now, is partly visible from Shotover St.
Simpson says the site could be redeveloped for short-term visitor accommodation or for long-term residential rental or staff accommodation — NZSki owns a staff accommodation building immediately next door.
At 1012sq m, the site’s also a generous land area, Colliers points out.
Simpson notes they’ve already had good inquiries from as far away as Hong Kong and Australia as well as Auckland, Christchurch and locally.
The property’s rateable value, as at September 2021, is $4,760,000.
The auction’s being conducted at Colliers Queenstown on June 18 at 11am.
