A large ‘one-of-a-kind’ Queenstown development site for sale is poised for new owners to create a landmark residential complex in the heart of the South Island tourist mecca.
Positioned a short walk from the fast-growing resort town's CBD, picture-book lakefront and public transport, the four adjoining properties for sale on the corner of Hallenstein and York streets span more than 3,200 square metres.
The Hallenstein Street sections are zoned for high-density residential development, and proposed zone changes may extend this high-density zoning to the entire property.
The sale includes a high-quality existing resource consent tailored for an apartment and villa development, offering new owners the option of a ready-to-go residential project.
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The freehold land at 9, 11 and 13 Hallenstein Street and 1 York Street, Queenstown, is now being marketed for sale by Mark Martin, Luke Baird and Stacy Coburn of Bayleys Frankton.
Sale is by way of deadline private treaty closing on Thursday 24th August, unless the site is sold earlier.
“This remarkable development site, offering buyers the chance to secure an A-grade location in the crown jewel of Queenstown, is truly one of a kind,” Martin said.
“The size of the landholding so close to the town centre, along with its intensive residential potential, present exceptional possibilities for a new multistorey complex. The existing resource consent means new owners could hit the ground running and turn the site’s potential into a reality.
“The upper levels of a residential development here will enjoy panoramic views of Lake Wakatipu and the Remarkables mountains. This location sets the stage for an exciting and exceptional project that will surely stand out,” said Martin.
Baird said the High Density Residential zoning for 9-13 Hallenstein Street under the Queenstown Lakes District Plan included a general provision for buildings higher than two storeys, subject to high design quality.
“Queenstown Lakes District Council is currently considering a proposed upzoning which, if adopted, will lift the designation at 1 York Street to high density, enabling a much higher intensity of development.
“This proposed intensification reflects the strength of Queenstown’s projected economic and population growth, and an acknowledgement by council planners that the town will need a lot more centrally located apartments, townhouses, hotels and motels.”
Baird said the existing resource consent offered developers a potential head start.
“High levels of care and attention to detail have been put into this consent and buyers stand to benefit by using this as an excellent starting platform for any development. They can undertake any such project in the knowledge that both apartment and townhouse offerings have been well received by the market in this location,” said Baird.
Coburn said Queenstown had established itself as a year-round destination, captivating both international visitors and locals with its stunning views and range of activities.
“The demand for high-quality residential properties in this fast-growing and ever-popular destination continues to surge, making this development location truly exceptional.
“Both permanent resident and visitor numbers are quickly returning to the Queenstown Lakes district and the demand for high-quality modern accommodation continues to grow,” he said.
Coburn said developers were actively on the lookout for sites that would enable them to cater to these growing short-term visitor and long-term accommodation needs.
“Tourism recovery and Queenstown’s growing popularity as a place to live continue to draw both domestic and offshore interest. Travel from some regions is still recovering and this presents even further upside to this already desirable location.
“The town centre streetscape has been upgraded and improvements to transport routes are underway. National and international retailers and other businesses are continually establishing branch locations here as Queenstown grows as a practical and beautiful place to live and work,” Coburn said.
- Article supplied by Bayleys
