Queenstown lake view development site

A development site, with consent approval, in a fastdeveloping area is being sold by Colliers International.

Arare redevelopment site a mere 1.5km from central Queenstown, in an area of high-end apartment development, is being put on the market. The 1,770m² site at 139 Frankton Road is well positioned within a High-Density Zone on Frankton Road (SH6), the main arterial route into Queenstown. The elevated site enjoys dramatic views over the Frankton Arm of Lake Wakatipu and the iconic mountain ranges of Queenstown including Cecil Peak and the Remarkables beyond. Colliers International has been exclusively appointed to market the property for sale by tender closing at 3pm on Thursday 28 November, unless it is sold earlier. Queenstown Broker Barry Robertson, who is marketing the property with colleague Steve McIsaac, says it offers an exciting opportunity for developers and well as those looking for a foremost permanent residential site. “The contour of the land, which rises from the lakefront to Frankton Road, would allow for a multilevel development with views possible from numerous units. The prime location and lake views will also attract purchasers looking to establish a premier residential residence.” The zoning, currently “High Density Residential – Subzone A” in the Queenstown Lakes District Council Operative Plan and “High Density Residential” in the proposed District Plan, both allow for multiple residences to be developed on the site. The property’s limited improvements comprise a twobedroom 1960’s dwelling with a lettable area of about 70sqm. Which is being sold ’as is, where is’. Robertson says the property is well located within an area of established visitor accommodation. “The site is located within close proximity of the Oaks Club Resort, Spinnaker Bay, BreakFree the Point, Villa del Lago, Colonial Village Motel & Swiss-Bel suites among others.” McIsaac says the property is just 1.5km from downtown Queenstown, 7km from Queenstown International Airport at Frankton and enjoys direct access to the Queenstown trails. “The property is located on the Frankton Track with direct access available from the southern boundary of the property. The Frankton Trail is part of an extensive network of interconnected trails within the Wakatipu Basin that are enjoyed by walkers and bikers alike. The Frankton Track can be enjoyed as a scenic lakefront route into the central CBD.” McIsaac says the Queenstown Lakes District continues to be one of the fastestgrowing regions in New Zealand. “Supported by the Queenstown International Airport and the tourism sector, Queenstown remains New Zealand’s premier tourism destination. “Market demand remains robust for commercial investment property in Queenstown. In particular, property within or close to the CBD is especially sought after but remains tightly held.”