Buyer found for QLDC's Queenstown Hill block

by Kim Bowden - May 09, 2024

Although their identity or details of any agreement cannot be divulged, the council has confirmed it is working with a buyer for the last slice of common land held on Queenstown Hill.

A sale will free up money, flagged for investment in local infrastructure.

In a written statement, a spokesperson for the Queenstown Lakes District Council says it expects to be able to provide more information - assuming the deal is locked in - around mid-June.

"Council has selected a purchaser for The Commonage land," the statement says.

"To protect their confidentiality, and that of other parties who showed interest, we're unable to provide any further details at this stage.

"Due diligence is underway and we'll be able to provide further details when this concludes."

Marketing the 9.5-hectare property earlier in the year, Colliers real estate agents described it as one of the country's "best development sites", and the last opportunity to secure such a substantial piece of land for development in Queenstown. 

The block, accessed off Vancouver Drive, is the only remaining slice of approximately 40 hectares of freehold land provided to the council by central government in 1971 to help fund infrastructure in the town.

While forested for now, Colliers suggested to potential buyers the land could be developed for anything from hotels, to an intensive residential neighbour or higher-end, larger-sized sections. 

If the deal goes through mid-year, it will be third-time lucky for the council, after attempts to sell in 2017 and 2021 proved unsuccessful.

In decades past, other chunks of The Commonage block were sold off and developed.

The elevated sites offer views across Lake Wakatipu and surrounding mountains.

 

 

Support Crux Support Crux