Apartment 624, Peppers Beacon

This property was sold on 05/04/2024.

When you are considering a lifestyle investment in Queenstown, Peppers Beacon is one that has definitely stood the test of time.  So when a rare opportunity arises to secure what is undoubtedly one of the jewels in the Beacon crown, any serious investors should sit up and take notice.

Apartment 618 is one of just 13 apartments on north side of the Level 6 courtyard.  Designed to a smaller footprint, this 2 bed, single bathroom configuration offers a great entry level option for those looking to secure a lifestyle investment property in Queenstown’s highly competitive managed apartment sector.

Open-plan living with floor to ceiling glass maximises natural light and the central position provides for views up to The Remarkables as well as a glimpse of the lake from the courtyard.   Two good size bedrooms, one king, one with two singles, offers the perfect getaway for the family as well as income potential as a short-term rental in your absence.

Apartment 618 is currently managed by Peppers Beacon with a gross income of $58,660 for 2022 Calendar year, resulting in income paid to owner of circa $22,500 inclusive of GST.  Performance so far this year has been exceptional with the apartment already grossing $60,369 for the first 7 months of the year which puts it on track to surpass pre-Covid income record which was a gross of $89,339 for 2018.

The new owner will have the flexibility to continue with the existing management agreement with Peppers, appoint a new management company, live in, rent out long term or simply lock and leave as while the existing management agreement will be assigned to the new owner, this agreement can be terminated by giving 3 month’s notice.

The current agreement allows for 30 days owners use per annum and the Management Fee is 30% of gross income.

Apartment comes fully furnished as turnkey solution.

Property to be sold plus GST (if any).