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Auckland

Prime Queenstown land for sale


 

 

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The receivership of Kawarau Falls Station means a waterfront block ideal for tourism is now available

Queenstown's spectacular Kawarau Falls Station is selling three blocks of land in a receivership sale.
 
The three sections, totalling nearly 4ha, could offer a wide range of development opportunities in the tourism destination.
Grant Thornton, the receivers of the owner, Peninsula Road Limited, have put Stages Two and Three of the Kawarau development land on the market, with Jones Lang LaSalle responsible for marketing the sale.
 
In Stage One, six residential apartment and hotel buildings were completed in 2010, including an award-winning five-star Hilton Hotel.
``This sale of Stages Two and Three represents an exceptional opportunity that could prove a very lucrative and long-term investment,'' says Nick Hargreaves, of Jones Lang LaSalle.
 
``It is a fully zoned area with `consent for the master plan' which remains valid until June 2016. There is also the option of this being extended, as almost 40 per cent of the consent has now been fully implemented. Alternatively, a new consent could take advantage of the existing high-density residential zoning.''
 
Hargreaves says the site's zoning recognises a need to provide high-density housing for residents and accommodation for visitors close to Queenstown and Frankton.
 
He says Kawarau Falls Station is the only large, fully zoned and consented north-facing waterfront site in Queenstown.
``It sits right on the water's edge, with raised contours that ensure all parts of the site have superb views of the lake and Coronet Peak.
``As the only north-facing site on the lake, it receives all-day sun. In addition, it's protected from all prevailing winds, meaning that it is warm and sheltered all year round, creating a wonderful microclimate.''
Hargreaves says visitor accommodation has been acknowledged in the zone to protect the important contribution it makes to Queenstown's economic and social well-being.
 
``Residential units are intended to provide a more permanent living environment for local residents and the workforce, who desire a more urban setting or who cannot afford nearby housing, as well as contributing to the life of the community.''
 
The land for sale is just five minutes' drive from Queenstown International Airport, Remarkables Park shopping centre and Kelvin Heights and Jacks Point golf courses. The Remarkables ski field is also only a short distance away. ``The location makes this a unique trophy asset for any investor who has vision for Queenstown and New Zealand,'' Hargreaves says.
 
``Surrounded by the dramatic, rocky Southern Alps, this site is considered the finest residential site in Queenstown. It is situated on the northern side of Peninsula Rd, south of Frankton, where the Kawarau River meets the Frankton Arm of Lake Wakatipu and is approximately 8.2km east of the Queenstown CBD.''
 
Hargreaves says the arrival of the Hilton group in Queenstown was important to tourism in the region.
``Queenstown welcomes more than two million visitors each year, making this a significant and very attractive location for international brands.''
Hargreaves says Queenstown is now one of New Zealand's most positive property markets.
 
``Owing to good tourist numbers, an increasing population and a tightly held CBD where property values have recovered strongly, the sale of Kawarau Falls Station land is a rare opportunity.''