Queenstown’s Five Mile Retail Centre is pushing ahead with a major new development, announcing plans for two multi-million-dollar buildings to meet strong demand for office and retail space in the region.

An amendment to an existing resource consent has been lodged with Queenstown Lakes District Council, covering the construction of a six-storey office and retail tower and a three-storey car park building.

The centrepiece of the project is the 7,800sqm Murchison Tower, featuring ground-floor retail with five floors of premium A-grade office space above. Located on the corner of Five Mile Place and Murchison Road, opposite the Craigs Investment Partners building, the tower will offer panoramic views of The Remarkables and surrounding peaks.

Next to the tower, a three-level car park will add 215 spaces above the existing Woolworths carpark, with pedestrian links connecting directly to retail and office areas.

The combined value of the two projects is expected to reach $80 million, with construction planned to begin in the second quarter of 2026 and completion scheduled by the end of 2027.

Colliers Queenstown’s commercial division has begun seeking expressions of interest from prospective retail and office tenants.

Queenstown Gateway Five Mile director Craig Greenwood said Five Mile had already transformed into the region’s key commercial hub.

“The rate of change in growth in the Queenstown and Southern Lakes district is linear each year,” Greenwood said.

“This district has experienced extraordinary levels of population and business growth. There was absolutely nothing at Five Mile before the first sod was turned in October 2013 and the supermarket opened two years later.

“Ten years down the track we’re proud to have delivered a bustling and successful retail and business centre that supports and strengthens local businesses, providing better amenities for our local community while creating so many jobs.

“Our investment in Murchison Tower and additional parking will strengthen Frankton’s position as the commercial centre of Queenstown and the Southern Lakes.”

Colliers Queenstown commercial director Mark Simpson said demand for A-grade office space in the region was already strong.

“We already expect strong levels of interest for what will be the best office address in Queenstown while remaining complementary to the existing downtown Queenstown CBD,” Simpson said.

“It’s important that the Queenstown CBD retains its vibrancy for the local community and visitors, while Frankton grows as a strong location for commerce.”

The design of Murchison Tower, by Plus Architecture, takes inspiration from the rugged Remarkables range. It features a striking gabled roofline, a rippling corten steel and louvered façade, a welcoming entrance lobby and full-height windows that maximise views of the surrounding mountains.

The adjoining car park will provide weather-protected access for both office workers and shoppers, connecting directly to the tower and the wider shopping centre.