Prosperity Avenue Precinct
Frankton, Queenstown
Product Type
Property Loan
Interest Rate
12% p.a
Payment
Monthly
Max LVR
75%
A strategically positioned mixed-use precinct at the heart of Queenstown’s growth corridor
The Prosperity Avenue landholding (formerly No.1 Hansen Road) represents a strategically located development site in Frankton, positioned at the convergence of Queenstown’s primary transport movements.
This loan allows eligible investors to co-invest with Gleneagle, via a registered 2nd mortgage.
The 30,000m2 site sits at the forefront of a rapidly evolving transport corridor, increasingly defined by infrastructure investment, population growth and rising demand for accommodation and supporting services.
Resource consent is in place for a coordinated worker accommodation scheme across the precinct, establishing a clear and executable development outcome, with each lot capable of being delivered independently as part of a cohesive, integrated asset.
The precinct will respond to the growing demand for well-located housing and everyday services, shaping a place that supports residents, workers and visitors while contributing to the long-term economic function of the Frankton corridor.
Sophisticated Investors
To be considered for this investment product; applicants must supply evidence they qualify as a Wholesale Investor within the meaning of Section 761G of the Corporations Act (Cth) 2001 in Australia
Investment Terms
The terms of this facility are as detailed in the Information Memorandum titled ‘Prosperity Avenue Precinct’ and include those set out below.
Product Type
Interest Rate
12% p.a
Payment
Monthly
Fund | GE Hansen 2nd Lending Trust (the Fund) |
Lender | Investors apply for subscription of units in the GE Hansen 2nd Lending Trust (Units). Investors may request a copy of the Trust Deed if desired. |
Borrower | Joint and several co-borrowers: No.1 Hansen Road A B LP (NZ Co. 50230721) and No.1 Hansen Road Limited (NZ Co. 6195307) |
Use of Proceeds | Development and working capital funding across the site, including planning, design and enabling works, and working capital during construction of “The Club” levels on Lot 7, Block A on Lot 8, and Block B on Lot 9 (and/or the refined building outcomes on those lots). |
Loan Security | 2nd ranking secured loan facility comprising an all asset charge over the Borrower(s) and registered 2nd mortgage over all 13 Lots, subordinated to the first ranking secured loan facilities. |
Property Value | On completion of 2 residential floors on Lot 7, Block A on Lot 8 and Block B on Lot 9, and the residual land as-is: $143,202,133 NZD anticipated value |
Maximum Loan to Value Ratio (LVR) | 75% (on an ‘as if complete’ valuation basis) |
Interest | 12% p.a. payable to investors monthly |
Loan Maturity | 30 September 2027 |
Minimum Investment | $50,000 AUD to Wholesale Investors within the meaning of Section 761G of the Corporations Act (Cth) 2001 in Australia |
Loan Repayment | Early repayment allowed, at discretion of the Borrower |
Gleneagle Product | HANS12P2604 |
Frequently Asked Questions
This project meets Gleneagle’s strict investment criteria, and we are uniquely placed to capitalise on development opportunities, regardless of their geographic location.
We have a strong track record in delivering similar projects in New Zealand and have a close working relationship with all consultants involved, (both in Australia and New Zealand).
Where specifically noted, some financial figures have been reported in the project’s local currency – New Zealand Dollars (NZD). Investment is open to Australian residents.
Australian Investors: Your investment in this product, respective income payments made to you will be calculated and paid in Australian Dollars (AUD), and any reporting or statements provided to you, will always be in Australian Dollars (AUD). Investors therefore do not bear any currency risk.
This product is open only to Australian Wholesale Investors. Applicants must supply evidence they qualify as a Wholesale Investor within the meaning of Section 761G of the Corporations Act (Cth) 2001 in Australia.
This product is issued in Australia, and only open to eligible investors who reside in Australia.
Investors apply for subscription of units in the GE Hansen 2nd Lending Trust (the Fund) (Units).
1 Unit = $1.00 AUD
When interest is paid on the loan each month, the trust distributes that interest to investors, proportionate to the number of units they own.
Investors receive distributions from the Fund monthly.
Statements are provided to investors on a monthly basis, coinciding with distribution payments.
Local Context
Queenstown is an internationally recognised tourism destination and one of New Zealand’s most significant visitor economies.
A combination of year-round tourism, seasonal workforce requirements, and sustained residential migration means the region regularly services a population well beyond what its existing infrastructure was designed to support. The result is one of the highest cost environments in the country, with constrained housing and amenity capacity limiting the region’s ability to sustain the economy its visitor numbers demand.
Base aerial photograph kindly supplied by a Gleneagle Investor, 2026.
Artist’s impression overlay. Issuer’s interpretation of publicly available plans for roading, bus and gondola projects.
$2.8b Tourism Economy
The District recorded ~$2.8 billion in tourism expenditure in the year to December 2025, generated by just ~1% of New Zealand’s population.
Infometrics, YE December 2025
Servicing Double
Despite a resident population of ~54,000, the daily population averages ~82,000, rising to 122,000+ on peak days.
QLDC Demand Projections, 2025
Highest Rent in NZ
Queenstown has the highest average rent in the country, reaching $902 in early 2026, a 12.1% increase year-on-year.
Realestate.co.nz rental data, 2026
Queenstown’s Transport Spine
With steep hills on one side and the lake on the other, all practical routes between Queenstown, the airport and the wider basin converge at Frankton. The State Highway 6 corridor is the focus of over $250m in government‑backed road and bus‑hub upgrades, set to increase capacity for the ~27,000 vehicles and ~15,000 bus passengers already moving through each day.
The same programme includes a new link road between Hansen Road and SH6 Frankton–Ladies Mile Highway, effectively pulling the project landholding directly into the core transport spine of the basin.
2X Capacity Increase
Frankton Bus Hub Upgrade
Queenstown Airport Passengers in 2025
Together, these works strengthen Frankton’s role as the primary gateway and distribution point for the wider urban area. The site at Hansen Road is one of the only large, centrally connected landholdings that sits directly in this transport corridor.
Independently Titled Lots
No.1 Hansen Road has been subdivided into 15 lots, with new roading now establishing it as Prosperity Avenue.
Resource consent is in place for a coordinated worker accommodation scheme across the precinct, establishing a clear and executable development outcome, with each lot capable of being delivered independently as part of a cohesive, integrated asset.
This product allows eligible investors to co-invest with Gleneagle, via a registered 2nd mortgage over all 13 retained lots.
Lot 1 | 533m2 | ||
|---|---|---|---|
Lot 2 | 1,794m2 | Block D | 4 levels // 69 Rooms |
Lot 3 | 1,692m2 | Block E | 3 levels // 30 Rooms |
Lot 4 | 2,169m2 | Block F | 3 levels // 30 Rooms |
Block G | 3 levels // 30 Rooms | ||
Lot 5 | 2,189m2 | Block H | 4 levels // 69 Rooms |
Lot 6 | 312m2 | ||
Lot 7 | 4,385m2 | Car Storage | 132 Parks for Lease |
Residential | 2 levels // 119 Rooms | ||
Lot 8 | 1,072m2 | Block A | 5 levels // 90 Rooms |
|---|---|---|---|
Lot 9 | 1,347m2 | Block B | 5 levels // 108 Rooms |
Lot 10 | 533m2 | Block C | 4 levels // 50 Rooms |
Lot 11 | 4,361m2 | Road | |
Lot 12 | 626m2 | Road | |
Lot 13 | 389m2 | ||
Lot 14 | 11,696m2 | ||
Lot 15 | 950m2 | ||
An Integrated Alpine Precinct
Delivering accommodation, services and amenity to create a long-term economic asset for Queenstown.
The existing consented scheme provides a clear foundation for delivery. The precinct intends to evolve in a way that reflects the significance of a landholding of this scale within the Queenstown – Frankton corridor, in close proximity to the airport and the basin’s primary transport hub.
The precinct will respond to the growing demand for well-located housing and everyday services, shaping a place that supports residents, workers and visitors while contributing to the long-term economic function of the Frankton corridor.
