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Sale for Significant Queenstown Lodge Development

NEWS RELEASE
High International Interest Results in Sale for Significant Queenstown Lodge Development
For Release: 17 May 2006

Strong buying interest from Australasia, Dubai, the United Kingdom, and the United States for the rare opportunity to purchase iconic Queenstown high country land with a wilderness lodge consent in place followed an international marketing campaign late 2005 by Warwick Osborne of Harcourts Queenstown.

Mr Osborne noted with plenty of ‘expat’ enquiry the buyers ranged from potential exclusive lodge operators, to those looking to build their own private hideaway in what is arguably one of New Zealand’s and the world’s most stunning landscape. The eventual purchaser of the Walter Peak development was local Queenstowner Rod Nielsen who spends time between Queenstown and the US, and is also the name behind the Heritage Villas attached to the Heritage Queenstown Hotel and The Esplanade Villas.

The Walter Peak development was described as a “true top end wilderness experience with peace and quiet” adjourning and having access to recreation opportunities on the well-known 27,000 hectare Walter Peak Station. At 38.16 hectares the site has around 820 metre frontage to Lake Wakatipu on the north with Beech Bay road to the south. Access is by boat from Queenstown via the first private marina to be approved and built on Lake Wakatipu with alternative access through a back hills unsealed road from Te Anau, or by helicopter.

The one-off project, which took seven years of consultation with interested parties, design and landscape consultants and the Wakatipu Environment Society to get to the market late last year was expected to be around a $50 million development and the largest lodge development to date in Queenstown.

Harcourts Queenstown Manager, Kelvin Collins worked closely with the development from day one and said it was unusual to be able to purchase freehold lakeside land with consent of this magnitude already in place which was of huge significance to potential buyers. The consent gives approval for 17 buildings including a lodge incorporating a wing with six guest suites, separate manager’s residence, eight cottages and eight homestead sites. Initial landscaping including 309,000 plants has already begun on site.

ENDS

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