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Two top development sites for sale in Queenstown

Media Release
Two top development sites for sale in Queenstown

31 March 2008: Two top development sites are for sale in New Zealand’s premier tourist destination, Queenstown - one ideal for a hotel development, the other ready for luxury villas.

For sale by tender is a prime 9107sqm section on Fernhill Road, adjacent to the award-winning Heritage Hotel. It is one of the last sites available in Queenstown suitable for a large hotel complex.

The other property, a 3027sqm section of lakeside land on Frankton Road (the main road into Queenstown), is destined for the development of 16 luxury apartments, each with 16m wide frontages to capitalise on the stunning views.

Both properties are being marketed by successful Harcourts trio Warwick, Marie and Megan Osborne for the overseas vendor, who having already completed a number of major developments in Queenstown is selling these properties in order to concentrate on offshore developments.

Mr Osborne says both properties offer excellent development potential and are already attracting significant interest from both local and offshore parties.

“They are both large, well located sections with significant potential in one of New Zealand’s leading tourism destinations, so it’s not hard to see why they are of great interest - especially given the way has already been paved for their development by the current owner.”

The Fernhill Road property, which consists of two titles, offers a superb opportunity to capitalise on its strategic location next to the Heritage Hotel, Mr Osborne says.

“It’s a large, elevated site offering amazing views of Lake Wakatipu, The Remarkables, Cecil and Walter Peaks. In addition the property is only a short walk to downtown Queenstown, so it’s an ideal site to purchase and land bank or to build a four or five star hotel.

“With previous resource consent and proposed hotel schemes for the site available and numerous other options able to be explored, this property offers hotel chains, investors or developers a superb opportunity and we are confident it will be highly sought after,” he says. “In fact we have already had significant interest from the local market, Australia, Ireland, Singapore and Dubai,” says Mr Osborne.

Meanwhile, just a few kilometres away and ready to build on now is another Queenstown development site with strong appeal.

Located at 409-415 Frankton Road, the 3027sqm rectangle section of land, which runs all the way from the road down to the lakefront, is in three titles and has been approved for an architecturally-designed luxury apartment development, currently referred to as Pasadena Villas.

Approximately two kilometres from downtown Queenstown the proposed lakefront development comprises 14 three bedroom villas, one two bedroom villa and one three bedroom penthouse, ranging in size from 107m2 to 239m2. Each villa has commanding lake and mountain views, generous outdoor living areas and private garaging (accessible from a cable car or staircase).

Mr Osborne says resource consent has been granted by the Queenstown Lakes District Council for the development and a local construction company has already indicated a strong interesting undertaking the development of the villas.

It is proposed that there will be a full management agreement available for subsequent purchasers who wish to have their villas professionally managed.

The Fernhill Road property is for sale by tender, with a deadline of 4pm on Thursday 10 April. Meanwhile, 409-415 Frankton Road is for sale with an asking price of $5 million (plus GST).

Visit www.harcourts.co.nz to find out more. ID: QT080120 and QT080303.

ENDS

© Scoop Media

 
 
 
 
 
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