Council in shock decision to buy prime Ladies Mile property
- Feb 27,2019
QLDC has made the surprise decision to buy one of the top properties in Queenstown, in order to make sure it is used for community, rather than pure commercial, purposes.
The well known property, at 512 Ladies Mile, is up for sale with a capital value of $6.41 million. The property was home to Bill and Jan Walker. Bill Walker died in a gliding accident in Africa in 2014.
Here's the full detail from QLDC.
"Queenstown Lakes District Council (QLDC) has, subject to final approval, secured a key property that will provide a variety of facilities for Lake Hayes / Shotover Country residents as well as the wider community
QLDC has recently entered into a conditional contract to purchase the property at 516 Frankton-Ladies Mile highway. This site has both strategic and tactical value with an array of uses from recreation and community facilities, to education and transport in an area of significant community growth.
QLDC has been regularly exploring land and asset acquisition opportunities that will benefit and respond to existing and future community needs. The Ladies Mile property provides a rare opportunity to protect open spaces in the area whilst offering a location for community facilities.
QLDC Mayor Jim Boult said Council officers consulted with elected members at the appropriate time and the proposed purchase has been well supported.
“The location provides us with the opportunity to develop much-needed facilities for rapidly growing communities along Ladies Mile, and sites like this do not come up very often. Therefore I feel it is a prudent move to make this investment now to enable us to provide for the community in the future,” said Mayor Boult.
Due diligence on the purchase is currently underway and elected Councillors will fully consider the purchase in an upcoming Full Council meeting. QLDC is also in discussion with potential partners to explore what facilities could be provided on the site.
Mayor Boult added, “the benefits this purchase can bring to the community are quite compelling and the final funding will be determined once we have confirmed exactly how the site will be used.”
“We’re in the final stages of due diligence and whilst I can’t predict the outcome of my fellow elected members’ decision making, I am confident that they will be equally as supportive as I am and will endorse this community-minded purchase.”
QLDC will be making no further comment whilst due diligence and the remainder of the purchase process are completed."