KEY POINTS:
A large alpine outdoor sport and recreation complex with an array of commercial activities and concept plans to develop it into one of the Southern Hemisphere's leading ski resorts, has been placed on the market.
Waiorau Station, near Wanaka, is the creation of well-known Otago alpine entrepreneur John Lee who developed the popular Cardrona skifield in the 1970s. After selling Cardrona, John Lee's next step was to develop nearby Waiorau Station.
Spread across 2700ha in the Cardrona Valley, the station encompasses a wide range of business activities including its traditional use as a working sheep farm. However, it also has a 20ha snow park for freestyle skiers and snowboarders and a cross-country ski resort.
The property also offers a multi-purpose vehicle testing facility for rating the performance and endurance levels of motorised vehicles in cold and extreme conditions and a thrill-seekers vehicle-based activity business, including monster truck rides. There is also gravel excavation land along the ridge of the access road.
The station and its associated businesses are up for sale by tender, closing November 26 with Zita Cleugh and Mat Andrews of Bayleys Wanaka.
Cleugh says much of the groundwork has been done to get Waiorau Station up and running and big investment is now needed to unlock the location's next level of operations - potentially realising John Lee's vision to create the alpine "Disneyland" of the Southern Hemisphere.
Cleugh says consent has been granted to build one of the most exciting development to hit New Zealand's skiing industry - a 3.8km gondola to the Mt Pisa Range. It is estimated to cost $17 million to build. The rest of the resort, including five chairlifts, is estimated to cost $30 million.
Cleugh says: "A diversity of activities already exists on Waiorau Station from mountain biking to freestyle snow sports and cross-country skiing. With the addition of traditional recreational snow sports, the Roaring Meg Alpine Resort has the potential to be one of the great winter destinations in the Southern Hemisphere."
Because of the sheer diversity of activities within the greater valley, the owners are open to negotiation on any proposals from potential buyers or investors such as buying . These options include purchasing the entire land parcel and all the assets, or a capital injection partnership to develop the ski zones further in conjunction with the gondola concept.
Cleugh says the property has a rare ski policy zoning, with 1000ha of potential ski terrain capable of sustaining more than 4000 skiers a day.
The gondola would create world class summer mountain bike facilities - with 975m of vertical drop and trails which can be modified at a low cost to satisfy all levels of mountain bikers.
"There would also be the opportunity to create numerous ancillary facilities such as health spas, condominiums, a golf course, ice skating rink, luges as well as many more year-round recreation facilities."
The property has a 20ha snow park offering half-pipes, jumps, rails and moguls for both freestyle skiers and snowboarders.
The snow park's facilities include a quad chairlift, restaurant and bar, and apartment accommodation. Existing snow-making facilities are capable of delivering 273 million litres of water in the snow making operation.
It also provides New Zealand's only cross-country ski resort, with 55km of formed trails and access to two back-country huts. The property is a 15 minutes drive from Wanaka or around an hour from Queenstown and has stunning views from its mountain top.
Waiorau Station leases its farming operations to a neighbouring farmer who runs the land as a merino unit. There are established buildings at the property's base near the main entrance of the Cardrona Valley as well as an airstrip and the farm operation provides good irrigation rights.
"The high country farming element offers a sustainable land management and conservation tool that complements the diverse range of recreation-driven activities and operations," says Cleugh.
