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NEW $30 MILLION QUEENSTOWN RETAIL AND BUSINESS CENTRE

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January, 2019

Queenstowns bustling Five Mile retail and business centre continues to
grow from strength to strength  with its latest building opening
officially this month and plans for a new hotel in the pipeline.

A new $30 million, five-storey building officially opens at Five Mile
Business and retail centre this month, adding another 5200sqm of gross
floor area to the fully-tenanted centre.

The building was designed by Richard Chambers of Queenstowns JCY
Architects and will house a wide range of business and hospitality
outlets.

Richard says the design was inspired by the way a glacier carves its way
through the side of a mountain, like natural rocks exposed by a glacier
over time.

Even though the building is one of the largest in the Frankton Flats,
weve broken the form into bite-sized chunks so it fits with its natural
surrounds and has different elevations and angles, he says.

Key tenants include law firm Mitchell Mackersy, Craigs Investment
Partners, construction services company Project 360, Focus IT,
Landmark Homes and building company Naylor Love.

Naylor Love has not only built the current building but has been the
main contractor for every building in the centre to date.

Hospitality success story Joes Garage will be a major drawcard for the
centre when it opens on the ground floor. Joes started in an old post
office garage 15 years ago in central Queenstown and now operates in
12 locations around New Zealand, with the new Five Mile offering
making it lucky 13.

The new Joes will feature an outdoor fireplace and seating, where
diners can take in expansive views of The Remarkables mountain range
with their coffee and world-famous-in-New-Zealand sweetie. Joes
will
be joined by a number of other food retailers with details to be
announced shortly.

A number of tenancies of varying sizes are still available on the second
and third floors, while the first floor is a flexible space set aside for
smaller office users.

Five Mile opened three years ago with the launch of Countdown
supermarket, closely followed by The Warehouse and other anchor
tenants.

Developer Craig Greenwood of Queenstown Gateway 5M Ltd says Five
Mile has grown up in a short space of time to become a lifestyle
precinct with everything from a gym, childcare, restaurants and cafés,
to business services and retail outlets large and small.
Its warm, sheltered and sunny here so it was a natural progression to
see commerce in the Frankton Flats area, and staff and customers enjoy
having plenty of parking immediately to hand and not having to battle
central Queenstown traffic, he says.

With growth in the Queenstown-Lakes population you were always
going to see associated good growth in retail, entertainment, food,
work space and accommodation areas.

Mr Greenwood says with Joes Garage and other food retailers coming
to
Five Mile, together with the momentum of businesses coming to nearby
Queenstown Central, the whole area is becoming a community-focused
hub.

With the latest new building about to open, attention is turning to a
consented 120-room hotel building at the entrance to Five Mile.

Mr Greenwood says he has strong interest in the site from a number
of hotel operators who recognise that there is a niche for hotels in
Frankton.

Were looking to announce more details and a hotel operator in the
near future and should start work on the project by mid-2019, he says.

At 16000 sqm gross floor area it will be the biggest single building at
Five Mile and also the last major building to finish off the development.

As with other buildings it will also house an exciting mix of retail and
business outlets on the ground floor.

 

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