Wa¯naka opens its heart to new downtown centre
A large town centre landholding for sale in Wa¯naka has been described as the most significant mixed-use development opportunity ever seen in the South Island tourist haven.
More than 5600sq m of freehold land sits at a highly coveted location with expansive frontage to Ardmore St in the heart of the fast-growing lakeside town.
The property is consented for a landmark project combining retailing, food and beverage outlets, premium apartments and a boutique luxury hotel tipped to deliver a step change in the town centre’s transformation into a worldclass visitor hub.
It represents one of the few large-scale development opportunities in downtown Wa¯naka and the Southern Lakes, and is designed to be sympathetic to the region, encompassing 5642sq m of gently contoured land in six parcels.
Ardmore St is the main route along Wa¯naka’s lakefront and is considered the town’s prime retail location. Proximity to the water, excellent access, high foot traffic and visibility from the road all contribute to the site’s premium nature.
The popular resort town on the Lake Wa¯naka shores, surrounded by the Southern
Alps, is a quick drive ‘over the hill’ from Queenstown’s international airport, providing national and international visitors easy access to the location.
The freehold property at 42-56 Ardmore St and 4 Little St, Wa¯naka, is being marketed by Ryan Johnson, Ash Hira, Ryan Kerr and Luke Baird of Bayleys Real Estate. The team is inviting international expressions of interest by Thursday, October 12, unless sold prior.
The consented project, known as Wa¯naka Central, is centred around several unified and stand-alone blocks designed by Australian architects Cottee Parker.
It is well-positioned to build on Wa¯naka’s 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 with local authorities, who ensured the design was sympathetic to the town, 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 St and four hospitality establishments with a combined gross lettable area of over 1300sq m. The plan also includes a four-storey boutique hotel with more than 120 luxury 4+ star rooms, plus 58 upmarket apartments and a rooftop bar and terrace.
The site offers over 75m of frontage to Ardmore St, with a strong east-west axis enabling a developer to maximise views towards the lake and alps.
Baird says the 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 placed 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 Wa¯naka’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 Wa¯naka in particular seeing major surges in development,” Johnson says.