Queenstown’s heritage-listed Gantley’s Restaurant and surrounding development land are on the market.
The stone and wood Arthurs Point structure was originally built in 1863 during the goldrush era as a wayside inn by Queenstown’s first policeman, Patrick Gantley.
Operated as Packers Arms Restaurant in the 1970s and ’80s, it was renamed Gantley’s after Karyn and Ian Mill bought the 7046sq m property in 1993.
The couple refurbished the 410sq m premises and operated the 100-seat Gantley’s Restaurant for 10 years.
The restaurant was then leased to Ian Mills’ nephew Brent Rands and head chef Jared Aldridge who have a lease till 2019.
The business generates rental of $75,000 plus GST per annum.
Eighty-four per cent of the land around the restaurant is available for immediate development.
Bayleys Queenstown salesperson Dave Fea, who’s marketing the property, comments: “With a rural visitor zoning allowing for a range of commercial activities, the vacant land on offer would support future developments such as boutique heritage-style accommodation units, a more casual ancillary licensed establishment offering a different selling point from that currently delivered at Gantley’s, or boutique retail premises in keeping with the existing character building.
“There has been a suggestion that the land adjacent to the restaurant could be used to add new function facilities, allowing for larger functions/conferences or for two functions such as weddings or corporate events to be held simultaneously and catered for from the existing restaurant kitchen.”
Expressions of interest close April 24.
The capital valuation is $1,750,000, of which $1,025,000 is the land value.
The restaurant business isn’t part of the sale offering but could be purchased separately subject to negotiation.
The property was also offered for sale five years ago but didn’t sell.