A lakefront development site with incredible views in Queenstown presents prospective purchasers with the opportunity to acquire a once-in-a-generation development site in one of New Zealand’s most desirable locations.
Sitting on Homestead Bay Road near Jack’s Point, the development is known as Homestead Bay and features 27ha of total land area.
The site is split into two holdings, the first spans approximately 7.69ha and is currently zoned as a mixed-use commercial village with adjoining marina development that has potential to accommodate approximately 64,555sq m of gross floor area, according to masterplanning exercises undertaken.
The land is the subject of subdivision and development consent applications for eight larger development blocks and an adjoining marina development.
Start your property search
The remaining land comprises approximately 19ha and is currently zoned Open Space Horticultural Activity land but will likely benefit from intensification being proposed in the area.
With the wider Queenstown area experiencing a notable shortage of housing, a large-scale residential development would be incredibly popular and has strong local support.
Colliers Directors Josh Coburn, Blair Peterken, and Alastair Wood have been exclusively appointed to market the site for sale via an international expression of interest campaign with the deadline for offers closing at 4pm Thursday 7 December, unless sold prior.
Surrounded by some of the country’s most stunning scenery, including The Remarkables mountain ranges, there are few locations in New Zealand that can rival the views on offer.
The world-renowned Jack’s Point golf course is nearby, while Lake Wakatipu, famous for its beauty and adventure tourism, is on the doorstep, making this an action-packed playground for its future residents.
Coburn, Director of Site Sales and Capital Markets at Colliers, says houses prices in the Queenstown-Lakes District have continued to buck national trends, despite economic headwinds.
“In June, the average house price in the area was up 1.9 per cent compared to the year prior, while prices dropped by 11.1 per cent across the country, as per data from Infometrics,” Coburn says.
“A lack of supply in the Queenstown market has contributed to this price resiliency and the area still remains hugely appealing for buyers given its well-documented attractions, scenery, and connection to some of Central Otago’s most popular tourist offerings, including skiing and snowboarding, cycle trails, wineries, and bungy jumping.”
The Frankton commercial town centre, which has rapidly expanded in recent years and boasts big-name brands at the FiveMile Shopping Centre, is only approximately 8km away.
The Queenstown Events Centre and neighbouring international airport are also easily reached.
Peterken, Director of Capital Markets at Colliers, says the development will provide access to future amenities that are being developed.
“Approximately 3km to the north of the subject site, a new primary school is being built in the Hanley’s Farm residential development,” Peterken says.
“This will complement the existing education offering in Queenstown that includes multiple primary schools and Wakatipu High School.”
Wood, Director of Sales and Leasing at Colliers Queenstown, says while Queenstown is known for its tourist hotspots, gorgeous views, and outdoor activities, there is a continued need for further housing developments.
“Data from Infometrics notes the rapid rise of the population in the Queenstown-Lakes District during the past five years with more than 10,000 people moving to the area between 2018 and 2023,” Wood says.
“Acquiring this site will give the new owner the opportunity to create a significant development that will have a long lasting impact on the Queenstown region and provide future residents with a home in an idyllic location that will be the envy of many.”
Article supplied by Colliers
