JLL is marketing a development site in an area bursting with potential - 67-71 Red Oaks Drive, Remarkables Park, Queenstown, a promising opportunity for investors looking to expand their business in a burgeoning region.
The site comprises three lots of varying shapes and sizes that lend themselves to a broad range of development prospects.
JLL Director - Hotels and Hospitality Nick Thompson highlights the diverse possibilities as a key factor in the future success of this site.
“Given the location and scale of the site, there are many development options which include apartment blocks, hotels, build-to-rent, or mixed use,” says Thompson.
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“This property is an attractive investment for those looking to establish a presence in a burgeoning market.
"With five new hotel and apartment developments either completed or under construction, and around 275 apartments and 250 hotel rooms completed in the last three years, this land is located in an area that provides one of the largest mixed-use development programmes in the region.”
JLL is marketing the property for sale by expressions of interest.
67-71 Red Oaks Drive has a total land area of 10,909sq m. Resource consent has been issued for the development of an eight-level, 5-star hotel with 171 rooms; a seven-level, 4-star hotel with 255 rooms and 30 staff accommodation units; and a seven-level, 150-unit apartment building.
The current zoning provides good flexibility for alternative lower density style developments such as terraced housing if preferred.
Remarkables Park Town Centre is Queenstown’s most established open-air retail precinct and is conveniently located next to Queenstown’s International Airport.
The surrounding area houses childcare facilities, Remarkables Park Primary School, and Wakatipu High School, all within a five-minute drive. This makes it an ideal location for those looking to establish a business in an area that caters to a diverse and growing demographic.
Plans are under way to construct a proposed 1350-person conference centre that will add to the variety of mixed-use builds around Remarkables Park.
A proposal for a gondola to the Remarkables ski field is under way, which will provide an accessible link between adventure tourism and the corporate sector, and increase demand for a hotel or apartment building, ensuring long-term success and profitability for the site.
- Article supplied by JLL
