Elevated, consented subdivision site
The generous 3.2513 hectare site at 155 Arthurs Point Road enjoys an elevated position with dramatic mountain and river views. Colliers International has been exclusively appointed to market the property for sale by negotiation. Queenstown Broker Barry Robertson, who is marketing the property with colleague Steve McIsaac, says the location is a draw card. Arthurs Point village sits approximately 7 km from central Queenstown and 14km from Arrowtown via Gorge Road and Malaghans Road. The turnoff to Coronet Peak Ski Field and the Skippers historic area is nearby. “This is an exceptional opportunity to acquire a generous freehold site in a quality location. Arthurs Point has seen significant growth in both residential and tourism property in recent years. It enjoys close proximity to the Coronet Peak ski field and easy access to central Queenstown, making it attractive to investors. Access has improved substantially with the local authorities new $2 bus routes which service this area. Figures released by QLDC show they are planning for a 30 percent increase in population in this area over the next 30 years.’
Nearby residential development includes the adjoining Bullendale 60-unit residential development, and 8-lot housing complex Coronet Grove. Tourism developments close by include the Swiss Bell Hotel and Nugget Point Resort. McIsaac, says it offers plentiful options for astute developers given the approved subdivision consent and QLDC zoning. “Uniquely, this site offers opportunities for both residential and commercial developers. The current consent allows for a 25-lot residential subdivision that offers potential for up to 50 units. Given Queenstown’s tight residential market and high demand, this will be highly appealing for property developers. On top of this, the site is zoned Rural Visitor which opens the option up for short term accommodation to be developed on site. Given the location and surrounding tourism operators, we are expecting interest from the visitor accommodation sector.”
The Rural Visitor Zone has no prescribed minimum lot size within the Operative District Plan (ODP). On the basis that a proposed subdivision meets the subdivision requirements in the ODP, any resource consent for buildings should be processed on a non-notified basis with no affected persons approvals being required. Robertson explains this gives potential purchasers more freedom.
‘The generous Zone rules allow for a range of site uses from residential through to commercial, subject to the appropriate consents. Buildings to be used for visitor accommodation purposes can be built to 12m in height, while buildings to be used for commercial or residential activities have an 8m height limit.’
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 and residential investment property in Queenstown.”