Club

No.1 Hansen Road

Queenstown, New Zealand

Product Type

Property Loan

Interest Rate

12% p.a

Payment

Monthly

Max LVR

75%

Summary

Terms

Project

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Summary

No.1 Hansen Road presents over 34,000m² of prime vacant land in Queenstown NZ, set against the backdrop of the beautiful Remarkable Mountains.

Situated just 1.4 km from Queenstown Airport and a mere 12 minutes from Queenstown’s Centre, the site is ‘Local Shopping Centre Zoned’ as an appropriately located mixed-use centre that will provide for the community.

The property has been successfully approved for subdivision into 15 lots

The extreme shortage of worker accommodation in the Queenstown area is a well-known fact, with overcrowded rental properties, people living in cars, and hostel room rate cost escalation. Almost three quarters of Queenstown Lakes businesses have said the availability of staff accommodation is more than just a minor issue for their business*.

The spatial layout plan of the land at No.1 Hansen Road enables development to provide for a mix of residential, retail, offices, and car storage, which will provide for local residents and visitors, and assist with the economic viability of the area.

*Pulse check by Queenstown Business Chamber of Commerce, 30/31 January 2023, 82 respondents. Site plan indicative only

Sophisticated Investors

To be considered for this investment product; applicants must supply evidence they qualify as a Sophisticated Investor

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Investment Terms

Interest Rate

12% p.a

Payment

Monthly

Max LVR

75%

Borrower	No. 1 Hansen Road Limited
Property valuation	The property comprising 15 lots has been independently valued at ~$73.8m NZD, based on completion of the carpark building, including 2 upper floors of residential apartments, and the other subdivided lots as-is
Investment Loan	Bridging Loan to support working capital during construction of Stage 2 (2 residential floors), and preliminary design and planning for Stage 3
Interest	12% p.a., payable to investors monthly
Loan Maturity	30 September 2024
Max LVR	75%
Minimum Investment	AUD$50,000 (open only to sophisticated investors within the meaning of section 708(8) of the Corporations Act)
Exit Strategy	Refinance with senior investment
Loan Repayment	Early repayment allowed
Loan Security	2^nd Ranking Secured Loan Facility comprising an all asset charge over the Borrower, behind land and construction finance of up to $40m NZD
Product Code	HANS12P2309

Project Plan

Stage 1

Subdivision of the lots and ‘The Carparks at No.1’ (Lot 7)

161 car parks and lifestyle lockers will span across a bespoke building, architecturally designed by Mason and Wales. No other facility of this nature exists in this part of Queenstown, which is demonstrated through exceptional pre-sale demand.

Stage 1

Stage 2

Additional Residential Floors (Lot 7)

Consent to an additional commercial level above the carpark was granted in August 2023, with a variation now underway to facilitate residential apartments on 2 upper floors. Leveraging the existing carpark building for this residential component adds significant value, without encroaching on any of the other lots of land.

Stage 2

Stage 3

Worker Accommodation

The future of the project and intent for the remaining developable lots is to construct a mixed-use development that will provide 400-600 residential units to be utilised as worker accommodation. The application has been positively progressing with Queenstown Lakes District Council, and now accepted for referral to the panel under section 24(2) by the Minister of the Environment. Approval for Stage 3 is anticipated to be issued in Q4 2023.

Stage 3

Project Progression

2024 Onward

Design and planning works for Stage 3

October 2024

Construction completion of residential levels above car storage

September 2024

New investor loans reach maturity

January 2024

Construction commencement for residential levels above car storage

December 2023

Approval for Stage 3 anticipated to be issued

New loan facility now open to investors

New loan now open to investors

Proceeds used to support working capital during construction of Stage 2 (2 residential floors), and preliminary design and planning for Stage 3

August 2023

Resource Consent granted for commercial level above car storage

February 2023

Referral application documents issued to Ministry for the Environment (Stage 3 - Worker accommodation on the remaining lots)

October 2022

Car storage building construction commenced

July 2022

Infrastructure and siteworks commenced

June 2022

Fixed price contract with CMP Construction secured

Carpark pre-sales exhausted. All spaces offered pre-sold and 10% deposits received

April 2022

Construction Resource Consent granted by QLDC

October 2021

Subdivision into 15 lots granted by Queenstown Lakes District Council (QLDC)

2024 Onward

October 2024

September 2024

January 2024

December 2023

Now

August 2023

February 2023

October 2022

July 2022

June 2022

April 2022

October 2021

Gain access to the term sheet containing the Construction Schedule, Property Valuation and more

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Individual

Joint

Company

Trust

SMSF

Start Application

Individual
Joint
Company
Trust
SMSF

Individual Application

You

You’ll need to supply some details about yourself.
If we are unable to electronically verify your identity, you will also be asked to supply two forms of identification:

Photo ID

Current driver’s license, passport or national ID card

Proof of Address

Utility bill or bank statement from the last 3 months

Joint Application

You and Another Applicant

You’ll need to provide details about yourself and the other applicant. If we are unable to electronically verify your identities, you will each be asked to supply two forms of identification:

Photo ID

Current driver’s license, passport or national ID card

Proof of Address

Utility bill or bank statement from the last 3 months

Company Application

The Company

You’ll need to provide details about the Company. We’ll reference the information you provide against an ASIC extract to validate the identity.

Directors and UBOs

As part of your application, you will be asked to supply some details about the Directors and Beneficial Owners. If we are unable to electronically verify their identities, you will also be asked to supply two forms of identification for each applicant:

Photo ID

Current driver’s license, passport or national ID card

Proof of Address

Utility bill or bank statement from the last 3 months

Trust Application

The Trust

You’ll need to provide details about the Trust. If the Trust type is unregulated, or if we are unable to electronically verify the identity, you will also be asked to supply:

Copy of the Trust Deed

This must be certified by a Justice of the Peace

UBOs and Individual Trustees

You’ll need to provide details about the Ultimate Beneficial Owners (UBOs) and Trustee(s).
If we are unable to electronically verify their identities, you will also be asked to supply two forms of identification for each applicant:

Photo ID

Current driver’s license, passport or national ID card

Proof of Address

Utility bill or bank statement from the last 3 months

Settlor of the Trust

At the time the trust was established, did the Settlor of the Trust make a material asset contribution to the trust of more than $10,000? If yes, you will be asked to supply details about this person. If we are unable to electronically verify their identity, they must supply two forms of identification:

Photo ID

Current driver’s license, passport or national ID card

Proof of Address

Utility bill or bank statement from the last 3 months

Corporate Trustee

If the trustee is a private or public company, you will be asked to supply details about the company.

Self Managed Superannuation Fund (SMSF) Application

The SMSF

You’ll need to provide details about the SMSF. If we are unable to electronically verify the Fund’s identity, you will also be asked to supply:

Pages from the Trust Deed

Front cover page, Schedule page, Signature / Execution page

UBOs and Individual Trustees

You’ll need to provide details about the Ultimate Beneficial Owners (UBOs) and Trustee(s). If we are unable to electronically verify their identities, you will also be asked to supply two forms of identification for each applicant:

Photo ID

Current driver’s license, passport or national ID card

Proof of Address

Utility bill or bank statement from the last 3 months

Corporate Trustee

If the trustee is a private or public company, you will be asked to supply details about the company.

Learn More

To learn more about this investment opportunity, please get in touch.

First Name

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Phone

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No.1 Hansen Road

Queenstown, New Zealand

Product Type

Property Loan

Interest Rate

12% p.a

Payment

Monthly

Max LVR

75%

Summary

No.1 Hansen Road presents over 34,000m2 of prime vacant land in Queenstown NZ, set against the backdrop of the beautiful Remarkable Mountains.

The property has been successfully approved for subdivision into 15 lots

Sophisticated Investors

Investment Terms

Interest Rate

12% p.a

Payment

Monthly

Max LVR

75%

Project Plan

Subdivision of the lots and ‘The Carparks at No.1’ (Lot 7)

Additional Residential Floors (Lot 7)

Worker Accommodation

Project Progression

2024 Onward

October 2024

September 2024

January 2024

December 2023

New loan facility now open to investors

August 2023

February 2023

October 2022

July 2022

June 2022

April 2022

October 2021

Gain access to the term sheet containing the Construction Schedule, Property Valuation and more

Get started and join hundreds of investors who choose to partner with Gleneagle

Apply Now

Individual Application

You

Joint Application

You and Another Applicant

Company Application

The Company

Directors and UBOs

Trust Application

The Trust

UBOs and Individual Trustees

Settlor of the Trust

Corporate Trustee

Self Managed Superannuation Fund (SMSF) Application

The SMSF

UBOs and Individual Trustees

Corporate Trustee

Learn More

To learn more about this investment opportunity, please get in touch.

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No.1 Hansen Road presents over 34,000m² of prime vacant land in Queenstown NZ, set against the backdrop of the beautiful Remarkable Mountains.