Media release from New Zealand Sotheby’s International Realty

November 22 2013

Queenstown’s only lakefront development site with resort zoning offered for sale for first time

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Indicative boundary of Homestead Bay

Homestead Bay, an unprecedented resort-zoned absolute lakefront development site situated on Queenstown’s iconic Remarkables Station, is available to purchase for the first time.

Located on the shores of Lake Wakatipu, Homestead Bay is the only lakefront property in Queenstown with resort zoning, making it an exceptional site with unrivalled development potential.

Situated off State Highway 1 to the south of the Jack’s Point Zone, Homestead Bay is a 45 hectare (111 acre) site in one of the area’s most sought-after positions on absolute lakefront.

Remarkables Station is steeped in history dating back to the Otago gold rush of 1861 when it was founded by Queenstown's first European settler, William Rees.

Since then generations of the well-respected Jardine family have farmed the land that still surrounds the development site today.

This Station’s heritage, along with the ongoing working farm, add a certain character and charm to the site while providing a real sense of open space and privacy.

Marketed for sale by New Zealand Sotheby’s International Realty, Homestead Bay provides unimpeded opportunities for public access to, and enjoyment of Lake Wakatipu.

The naturally-formed terraced site is surrounded by beautiful farmland and offers unparalleled lake views and precious all-day sun.

In its current form the development zone incorporates three distinct parcels for development --  The Village Area with residential and visitor accommodation including bars and restaurants, The Open Space Horticultural Area for horticultural and residential activities, and The Open Space Residential Area, providing low level residential dwellings within the foreshore environment.

New Zealand Sotheby’s International Realty agent Russell Reddell said the site was one of the Wakatipu’s “finest and most sought-after resort development opportunities for years”.

“This is a unique development opportunity which is not provided for on a similar scale or in such an exceptional location anywhere else on Queenstown’s Lake Wakatipu foreshore,” said Mr Reddell.

“Homestead Bay has been ten years in the making and with zoning for residential and visitor accommodation in a high quality sustainable environment, the value of this property should not be underestimated,” he said.

Current zoning allows for approximately 27 elevated building sites across 30 hectares ranging in size between 4,000sq m and 2.0 hectares.

Within the Open Space Residential Activity Area at least 50% of the space will incorporate native planting in keeping with the natural area and in harmony with the natural surroundings

The identified Homestead Bay Village area is equivalent in size to the commercial area of downtown Queenstown and comprises 6.2 hectares directly adjoining the lake foreshore.

Plans include a mix of commercial, residential and visitor accommodation with a maximum height level of 10 metres above ground level and maximum building coverage within the Village Area of 21,500sq m.

There are also plans for an area to be developed to include a boat ramp, jetty and boat shed.

Only an eight minute drive to Queenstown International airport and Remarkables Park Town Centre and just 20 minutes from the central CBD, Homestead Bay is in an enviable location.

“Absolute lakefront development sites of this nature are extremely rare and careful planning has been done to ensure the future sustainability of this site,” said Mr Reddell.

“Queenstown has developed into the pre-eminent four-season resort in the Southern Hemisphere and with extensive golf courses, biking and hiking trails, ski fields, wineries and an abundance of other activities on your doorstep, there’s simply no place like it.”

ENDS

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