Prime Commercial Space in Queenstown Hub

Owner-occupiers and investors have a rare chance to secure commercial premises in central Queenstown as nine premium properties go up for sale in the Waipuna Rise mixed-use development.

The landmark master-planned project in Frankton includes six two-storey freehold units and three single-level unit titles, ranging in size from 155 to 397 square metres (approximately). These are now for sale through Bayleys Queenstown.

The new architecturally designed premises feature open floor plans with associated amenities plus allocated and shared parking. Thoughtful configuration provides modern functional commercial spaces with flexibility to suit professional services, retail or showroom use, and office administration.

The properties form part of the four-hectare (more or less) Waipuna Rise precinct on Frankton-Ladies Mile Highway. This is giving rise to a dynamic mix of residential, office, retail, hospitality, and visitor accommodation – well supported by infrastructure, amenities, and a location primed to benefit from Queenstown’s rapid growth.

Waipuna Rise sits directly across the road from the recently completed Queenstown Central development and close to the concentration of bulk retail at Five Mile Shopping Centre. Queenstown Airport is a short drive away.

The new commercial properties at Waipuna Rise, 111 Frankton-Ladies Mile Highway, are being offered for sale individually with prices starting from $1,629,000 plus GST (if any).

The sale is being marketed by William Gubb and Henry Napier of Bayleys Queenstown.

On offer are six freehold two-storey commercial properties, each measuring between 157 and 233 square metres (approximately), along with three unit-title premises ranging from 311 to 327 square metres each.

Gubb said the six freehold properties presented flexible dual-occupancy possibilities.

“Versatile split-level configurations make it possible for owner-occupiers to occupy these fully, or partly with income from another occupier. Investors have the option to accommodate more than one tenant in a location with proven occupier demand.

“The three unit-title properties provide open floor plans stratified over three levels, with elevated views, and include associated A-grade amenities,” he said.

Gubb said buyers would secure a prized place in a tightly held location with scarce opportunities to purchase commercial property and extremely low vacancy rates.

“The Waipuna Rise offering comes amid an emerging recovery in commercial property markets.

“Reduced funding costs have helped create the conditions for greater buyer demand. Leasing activity remains robust. Constrained supplies of zoned commercial development land in Queenstown will continue to fuel demand from occupiers and investors,” Gubb said.

Recent Bayleys research points to improving leasing and investment demand in the retail sector, with the South Island generally outperforming the North. Bayleys’ 2026 New Zealand office market update also points to rebuilding confidence in the office leasing market, with a flight to quality and flexible premises, plus greater investor competition for well-priced assets.

Retail and office vacancy rates in Queenstown, at 1.4 and 4.3 percent respectively, are significantly tighter than those in the major centres and many regional markets.

Napier said strong market fundamentals in Queenstown generally were powered by a booming local population and economy.

“The Queenstown Lakes economy swelled by over five percent per annum over the decade to 2025, more than double the national rate, according to Infometrics data.

“International visitors spent $73 million here in January 2026, up from $67 million a year earlier.

“Queenstown is now positioning itself for long-term success with unprecedented infrastructure expansion.

“An estimated $3 billion to $4 billion earmarked for housing, transport, tourism and essential service projects over the next decade is a vote of confidence in ongoing growth, and the opportunities for businesses that invest and locate here,” Napier said.