Plum industrial land worth $7.7m on market

Wide interest is expected in a rare parcel of vacant industrial land for sale in the premium part of Queenstown’s main industrial area.

At 13, 15 and 17 Glenda Dr, opposite Pak’n Save and Mitre 10 Mega, the combined 3456 square metre site comprises three titles.

The 1376sq m front title has a rateable value of $3.10 million.

The two rear titles are 1085sq m, valued at $2.2m, and 995sq m, valued at $2.4m, which includes a three-bay workshop with an office and amenity area.

The property is for sale by deadline private treaty, closing April 30, with buyers able to bid for one, two or three titles.

‘‘It’s right in the heart of that top of Glenda Dr area which is becoming more of that flashy kind of trail retail, almost,’’ says local Colliers commercial broker James Valentine, who’s marketing the property alongside colleague Rory O’Donnell.

‘‘I’ve been working the market for the last five years or so and I haven’t seen anything like this.

‘‘It can appeal to such a wide range of end users, whether it’s developers looking to spec [build] something, an investor who’s got a tenant or an owner-occupier.’’

O’Donnell says they’re expecting to see interest at or above the sites’ rateable values.

‘‘It sort of opens up to quite a broad market because there’ll be individual people focused on a single site or there could be people interested in the whole site or parts of it.’’

The rear sites are accessed by a shared right of way.

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