A 190-hectare lakeside landholding for sale has been described as the best residential and potentially commercial development opportunity seen in Queenstown in a generation.
Positioned between the Remarkables and the Lake Wakatipu waterfront at Homestead Bay, the two undeveloped freehold sites for sale offer stunning water and mountain views, minutes from Queenstown’s airport and CBD.
Formerly part of the historic Remarkables Station, the gently rolling land in the resort town’s southern corridor has been identified for numerous development options. These include premium lakefront lifestyle properties, elevated terraced sites and higher-density housing, along with the possibility of a hotel or other visitor accommodation.
“As far as undeveloped land around Queenstown goes, this is the jewel in the crown – potentially the best and last remaining large piece of development land in the entire Wakatipu Basin,” said sole agent Chris Campbell of Bayleys Real Estate.
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“In terms of scale, location and development potential, this is arguably the most significant opportunity brought to the market in the last 15 to 20 years.”
The property at Lots 101-105, 13, 243 Maori Jack Road, Drift Bay, and Lot 8, State Highway 6, Queenstown, are being marketed for sale through Bayleys Queenstown.
Sale will be by way of a tender closing on Friday 3 June, unless the property is sold prior.
Campbell said the land for sale spanned two freehold titles: one of approximately 163 hectares stretching towards the lake from State Highway 6 and an approximately 27-hectare site close to the water at Maori Jack Road.
A buyer could explore a range of attractive subdivision options to create a mix of highly saleable landholdings, he said.
“This could include larger lifestyle blocks that capture the panoramic vistas, or possibly a combination of higher-density cluster residential areas, that will create a level of affordability and allow the buyer access to a full cross-section of the market.
“The lakeside topography means multiple waterfront sites are possible, along with elevated terraced sites with outstanding views of the lake and mountains.
“A hotel or serviced apartments, plus potentially a boat-berthing marina, are also identified uses, subject to consents, within an existing master plan,” said Campbell.
“There is consented access from State Highway 6 to the larger site while the smaller site enjoys legal access through neighbouring Jack’s Point via Maori Jack Road.
“The majority of services are available onsite. More information on infrastructure and services is available to potential buyers as part of the due diligence process.”
Campbell said the mostly gently rolling contour and location between the Remarkables and Lake Wakatipu would ensure most residents of future sections have lake and/or mountain views.
“Homestead Bay also offers sheltered and safe swimming and is already a popular recreational boating spot for residents of Queenstown and Jack’s Point.
“Once developed, Homestead Bay will complement the ongoing developments within Jack’s Point, building critical mass as a centre of activity on Queenstown’s southern corridor,” Campbell said.
Just a 20-minute drive from Queenstown’s CBD, Homestead Bay is within easy reach of all the resort’s amenities including its two major shopping centres and the international and domestic airport – as well as world-class activities.
“Whether you want to play golf at one of the exceptional courses, head off on a mountain biking adventure or go skiing for the day, everything is very close.
“You could tee off at the 18-hole golf course a few minutes away at Jack’s Point or be at the base building of the Coronet Peak ski area within 30 minutes, and then spend the evening enjoying Queenstown’s world-class restaurants.”
The land at Homestead Bay is steeped in local history. It was once part of the 900-hectare Remarkables Station, originally farmed in the 1860s by the founder of Queenstown, William Gilbert Rees.
Part of a large woolshed Rees built still stands at the western end of the bay, along with the remnants of the original wharf used by the steamship Earnslaw to connect the property to the outside world before there were road links to the area.
- Article supplied by Bayleys
