It's billed as the “ultimate” Queenstown site, a “slice of paradise” that offers spectacular views of Coronet Peak, The Remarkables, and Lake Wakatipu.
But 11 Northview Terrace, in Kawarau Falls, is just a rock. Buyers will have to bring their imaginations and a builder if they want to take advantage of the location.
Bayleys listing agent Hemi Brown told OneRoof that building on the 757sqm outcrop wasn’t as big a challenge as it might first appear.
“Having a rocky outcrop as your base is not unusual in Queenstown. There are other parts of town where you have these quite spectacular shapes and forms to work with. There are plenty of architects and engineers [locally] that have experience in that,” he said.
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“We’ve spoken to a few architects about the site. They say, ‘look, don’t worry about it. It’s not that big of a deal’. The house will cantilever out off that outcrop.”
The rocky outcrop looks over Lake Wakatipu and Kawarau Falls, and is a short walk from a five-star Hilton resort. Photo / Supplied
The agents say the property is zoned for high-density residential structures, and invite potential buyers to bring their architect. Photo / Supplied
Brown said Kawarau Falls was one of just a few spots in Queenstown zoned for high-density residential development and was flanked by empty sections and a scattering of new-build homes.
He expected that whoever bought 11 Northview Terrace would build either one landmark home or two substantial townhouses. “You could do a large luxury executive style home, [or] you could do two townhouses on the site,” he said, noting that townhouses in the suburb can fetch up to $5 million.
Also for sale overlooking the site, at 6B Northview Terrace, is a newly built four-bedroom executive home.
The luxury townhouse, listed with Whitefox agent Kate Fairmaid and Michelle McCormack, is set over three levels and boasts the same breathtaking views, albeit from inviting couches and beds.
Also on the market for sale is a newly completed townhouse at 6B Northview Terrace. Photo / Supplied
The three-level house shows what can be achieved at the location. Photo / Supplied
The listing photos for the property show what is possible for new-build buyers in the area. Another stunning build on a challenging site is an award-winning four-bedroom home that hit the market in May with price expectations of $8m-plus.
The house on Sicilian Lane, in Lake Hayes, was carved into the rock and took three years to complete. The site itself cost the owner $800,000 in 2016.
Brown said there was considerable infrastructure around the Northview Terrace sites. Within walking distance was the five-star Hilton Queenstown Resort & Spa, while water taxis were on hand to ferry residents to Queenstown.
High-end buyers often want properties in elevated positions, such as this luxury home on Sicilian Lane, in Lake Hayes, because it enhances the view and gives them privacy. Photo / Supplied
“There’s a wharf, there are walking and biking trails. You could get on your bike and ride into Queenstown or over to Arrowtown without having to ride on roads,” he said.
Brown said the development appealed to downsizers, many of whom lock up and leave their properties to travel to Australia or further afield.
Brown’s colleague, Steven Kirk is also selling land in the Alpine Lakes Drive subdivision. The 3699sqm waterfront development site is zoned for high-density dwellings and has nearly 100m of pristine lake frontage, according to the listing on OneRoof.
“This blank canvas invites you to shape a high-end lakefront apartment complex, an exclusive boutique hotel, or an opulent residential enclave, all subject to the necessary consents.”
- 11 Northview Terrace, in Kawarau Falls, Queenstown, is for sale, deadline closing October 16
