A rare sale’s been concluded in what’s considered the best spot in Queenstown’s CBD.
A Kiwi investor’s snapped up 17 Rees Street, which is leased to Platypus Shoes, for $6,582,500.
The sale, which went through two stages, was brokered by local Colliers agents Rory O’Donnell and Mary-Jo Hudson.
It’s the third CBD sale this year, and like the other two, the sales price represents a rental yield of less than four percent.
It’s also the sixth CBD sale in the past 12 months, all of which have been brokered by Colliers.
This latest sale, for a yield of 3.68%, is a vote of confidence in Queenstown, Hudson says.
The property, comprising a ground floor of 96.5 square metres and mezzanine of 31.2sqm, attracted about 250 sales inquiries.
‘‘The demand was always going to be strong because it was a small site in Queenstown in the best street in the CBD,’’ Hudson adds.
Platypus Shoes, part of Accent Group Ltd’s global empire, took a lease on the premises last year.
