Lakeside land with lots of options

Kawerau Village in Queenstown where the land is for sale.

A prime waterfront section within Queenstown's Kawarau Village has been placed on the market for sale following the recent multi-million dollar sale of a nearby site in the same area.

"The land lot of about 3800 square metres is on the shores of Lake Wakatipu within the town's premier lakefront tourist and dining precinct," says Greg Ross of Bayleys Queenstown who is jointly marketing the property for sale by negotiation with Cam Reed of Ray White.

"It is surrounded by world class infrastructure and is located next to the award winning five star Hilton Resort and Spa with its exclusive rooms, suites, restaurant and spa facilities," Ross says.

"The land has previously been granted resource consent for a five level hotel complex, complete with food and beverage, conference and retail facilities. Preliminary architectural plans have also recently been prepared for two separate schemes - a 179 room hotel complex and a 76 unit apartment development," he says.

A 3699 sq m site adjoining the Hilton complex was recently sold by Bayleys for $6.2 million to a developer who is understood to be planning to build a number of houses on the site.

Ross says that under the Queenstown Lakes District Plan, the property for sale has High Density Residential zoning, providing scope for extensive development, including allowing for high density residential accommodation, hotel development and associated retail activity.

In addition to being in the heart of this flourishing area, the site is located less than five minutes' drive to Queenstown Airport, the Remarkables Shopping Centre, Jack's Point golf course and is close to the region's major tourist attractions. Queenstown's CBD is a 10 minute drive away or even less by water taxi, which departs from the jetty at Kawarau Village.

Ross says the section's location and its numerous development opportunities make it an attractive opportunity to investors.

"The north facing, freehold site is ideally positioned within a very sought-after growth area, and has panoramic views over Lake Wakatipu," he says.

"It site offers astute investors and developers the ability to secure an attractive piece of land in a stunning, accessible and popular location. Development opportunities could include varied commercial, tourism and residential ventures which would help meet a growing need in the popular tourist destination.

"Investors and developers could take advantage of a huge scope for development represented by this site, given its size, location and flexibility for use," he said. "In addition they would be taking advantage of the ever increasing Queenstown tourism market."

Statistics from Queenstown Airport show annual passenger numbers have more than doubled since 2005, making it the fastest growing airport in the country, with the total number of passengers for the year ending March 31 - up 10 per cent from the previous year to 1.37 million.

Queenstown Airport's Statement of Intent 2016-2018 conservatively forecasts growth to continue with 1.61 million passengers expected in the year to 2018 and rising up to 2.3 million by 2037.

"The region continues to be a tourist magnet, resulting in growing demand for accommodation in the region and a projected future shortfall," Ross says.

He cites Statistics New Zealand figures showing that more than 1.8 million international guests visit the region each year, with the number of domestic visitors also on the rise. Total annual visitor expenditure for the region recently increased to a new record of $1.37 billion.

This year the region was named the number one destination in New Zealand and the South Pacific in TripAdvisor's 2015 Travellers' Choice Awards. It is the third consecutive year Queenstown has won New Zealand's top destination and the first time it has taken out the title of best South Pacific region.