{"id":492,"date":"2022-04-01T02:52:11","date_gmt":"2022-04-01T02:52:11","guid":{"rendered":"https:\/\/chriscampbell.co.nz\/?p=492"},"modified":"2022-04-14T10:00:03","modified_gmt":"2022-04-13T21:00:03","slug":"remarkable-spread-for-sale","status":"publish","type":"post","link":"https:\/\/chriscampbell.co.nz\/remarkable-spread-for-sale\/","title":{"rendered":"REMARKABLE SPREAD FOR SALE"},"content":{"rendered":"

REMARKABLE SPREAD FOR SALE<\/h2>\n<\/div><\/section>
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by PHILIP CHANDLER, published in the MOUNTAIN SCENE – 1 April 2022<\/p>\n<\/div><\/section>
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It\u2019s being marketed as the best remaining development site in the Whakatipu Basin.<\/h5>\n

With stunning 360-degree views, the 190.68-hectare block \u2014 sitting below the Remarkables range, bordering Lake Whakatipu and surrounded by Jack\u2019s Point to the north, Lakeside Estates to the south and State Highway 6 to the east \u2014 hits the market today.<\/p>\n

It\u2019s split into two titles \u2014 a 27.22ha block above the lake, which is accessed from Jack\u2019s Point, and a 163.46ha block that has legal access off SH6 \u2014 though it\u2019s only being offered as one parcel.<\/p>\n

The vendor, Auckland-based Homestead Bay Trustees Ltd, has already sold 12 lots, averaging just over a hectare apiece, for about $3 million a pop.<\/p>\n

The company had intended selling off the balance of its land in stages, and has already completed substantial civil works.<\/p>\n

However, listing agent, Bayleys Queenstown\u2019s Chris Campbell<\/strong>, says it\u2019s now decided to concentrate on development projects in Auckland.<\/p>\n

\u2018\u2018They\u2019ve just decided the market is ready for this opportunity, so they\u2019re selling the whole thing in its entirety.\u2019\u2019<\/p>\n

Campbell says the land presents any number of development opportunities that\u2019ll ultimately depend on zoning and planning decisions.<\/p>\n

However, he thinks it could lend itself to the type of high-end development you see at both Lakeside Estates and Jack\u2019s Point.<\/p>\n

In line with the contours of the land, sections could range from 600 square metres to a hectare, he suggests, while there could be some \u2018\u2018incredible super sites\u2019\u2019 neighbouring the waterfront.<\/p>\n

Masterplanning for the smaller block has already included options for a marina, five-star hotel and managed and serviced apartments.<\/p>\n

As to what the land will fetch, Campbell says it very much depends on what development options can be realised by an investor\/developer.<\/p>\n

\u2018\u2018That\u2019s where someone with the right vision and experience can unlock its value.\u2019\u2019<\/p>\n

Campbell notes the site also has historical relevance as it was part of an original 900ha high country station, then known as Woolshed Bay, owned by Queenstown founder William Gilbert Rees in the 1860s.<\/p>\n

In the late 1980s, the land was used in a scene in the American fantasy movie, Willow, which was partly shot in Queenstown.<\/p>\n

Ironically, during the shoot Campbell was a stand-in for one of its stars, Val Kilmer.<\/p>\n

The property goes live today via the website, homesteadbay.co.nz<\/a><\/p>\n

Prospective buyers who register can get access to a \u2018data room\u2019 containing extensive information on the offering.<\/p>\n

\u2018\u2018I would say the inquiry we\u2019re going to get both nationally and internationally will be phenomenal,\u2019\u2019 Campbell says.<\/p>\n

Bayleys is marketing the property alongside international realtor, Knight Frank.<\/p>\n

Tenders close June 3.<\/p>\n<\/div><\/section>
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