A large town centre landholding for sale in Wānaka has been described as the most significant mixed-use development opportunity ever seen in the South Island tourist haven.
The more than 5,600 square metres of freehold land sits at a highly coveted location with expansive frontage to Ardmore Street in the heart of the fast-growing lakeside town.
The property is consented for a landmark project combining retailing, food and beverage, premium apartments and a boutique luxury hotel which is tipped to deliver a step change in the town centre’s transformation into a world-class visitor hub.
The property for sale represents one of the few large-scale development opportunities in downtown Wānaka and the Southern Lakes, which is designed to be sympathetic to the region, and encompasses some 5,642 square metres of gently contoured land in six parcels.
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Ardmore Street is the main route along Wānaka’s iconic lakefront and is considered the most prime retail location in town. Proximity to the water, excellent access, high foot traffic and visibility from the road all contribute to the premium nature of this site.
Wānaka is a popular alpine resort town in the South Island of New Zealand, situated on the shores of the beautiful Lake Wānaka and surrounded by the Southern Alps. A quick drive ‘over the hill’ links Wānaka to Queenstown’s international airport and provides both national and international visitors easy access to the stunning alpine location.
The freehold property at 42-56 Ardmore Street and 4 Little Street, Wānaka, is being marketed for sale by Ryan Johnson, Ash Hira, Ryan Kerr and Luke Baird of Bayleys Real Estate.
The team is inviting international expressions of interest by Thursday 12th October (unless sold prior).
The consented project, known as Wānaka Central, is centred around several unified and standalone blocks designed by eminent Australian architects Cottee Parker.
It is exceptionally well-positioned to build on Wānaka’s exciting future and will be a key part of the town centre’s evolution into a more refined and vibrant visitor hub.
Resource consent has been approved following extensive consultation in collaboration with the local authorities, who ensured the design was sympathetic to the Wānaka township, with a high-quality built form that does not appear dominant to the users of the town centre.
It envisages four ground-floor retail spaces facing Ardmore Street and four food-and-beverage establishments, with a combined gross lettable area of over 1,300 square metres.
The plan also includes a four-storey boutique hotel with more than 120 luxury 4+ star rooms, plus 58 upmarket residential units and a rooftop bar and terrace.
The site offers over 75 metres of frontage to busy Ardmore Street, with a strong east-west axis enabling a developer to maximise majestic views towards Lake Wānaka and the Southern Alps.
Baird says the consented Wānaka Central development represents a state-of-the-art, comprehensive town centre complex with a world-class concentration of dining, shopping and accommodation options. Architects have worked to ensure this is balanced with the environment, he says.
The site offers both the opportunity to leverage existing planning permissions to deliver a project of unprecedented scale and prestige for the town, or to harness market fundamentals to create another key community asset.
“The location, zoning and scale underpin the potential for a project that will form a vital part of the region’s infrastructure and cultural fabric,” says Baird.
Bayleys national director commercial and industrial, Ryan Johnson says the proposed development is well positioned to capitalise on favourable market fundamentals.
“The retail and hospitality tenancies will cater to strong tenant demand in an area that’s seeing precious few retail vacancies.
“The premium hotel will capitalise on Wānaka’s popularity as a premium destination for domestic and international visitors, who are drawn by its mountains, lakes, rich culture and world-renowned outdoor pursuits.
“Demand for the residential accommodation offering will be underpinned by its position in one of New Zealand’s fastest-growing locations,” Johnson says.
“In addition to population growth, the area is now seeing a massive resurgence in both domestic and international visitors, fuelling further growth in demand for visitor accommodation and food and beverage.
“Overall, the enduring fascination with the internationally renowned Southern Lakes region has continued to drive expansion, with both Queenstown and Wānaka in particular seeing major surges in development,” Johnson says.
- Article supplied by Bayleys
