Bullenrise, 117 Arthur's Point (67028959) IM

Introduction

Serviced residential land capable of multi-unit development.

Multiple development lots available ranging from 2 to 12 unit capable.

Perfect for a range of purchasers, from builders and developers, to investors and land-bankers. All the 2-12 unit capable lots have preliminary designs approved in the resource consent, allowing those house designs to be built as of right. Alternatively, approval may be obtained from Council to build something different.

Nestled in the historic and charming township of Arthur's Point, just 10 minutes from central Queenstown and 15 minutes to the Coronet Peak ski field. Bullenrise is adjacent to the popular Bullendale medium density development and consented for a similar style of housing.

With a shortage of development land in Queenstown and a consistent track record of increasing land value, this is your opportunity to secure a freehold serviced lot ready for building at affordable prices, with settlement not required until late 2025.

The lots are priced from $600,000 - $3,095,000 +GST (if any).

• Civil construction due to start mid to late 2024, with titles due mid to late 2025

• Lots approved for multi-unit development

• Lots ranging from 355m2 (2 unit) to 1,410m2 (12 unit)

Bullenrise, 117 Arthur's Point Road, Queenstown.

Investment Highlights

LOCATION

Located within popular and developing residential catchment

SCARCITY OF OFFERING

Limited consented development land available

CONSENTED

Fully consented development sites with concept plans

PRODUCT MIX

Attractive mix of multi-unit lots

ASPECT

South westerly aspect with views towards Shotover River and Queenstown Hill

MARKET CONDITIONS

Current conditions can give purchasers confidence as to demand for product

Location

The surrounding area is predominately made up of residential and accommodation development with some commercial activity including the Shotover Jet being close by. This is also the main thoroughfare to Coronet Peak Ski field and fast becoming a summer destination around mountain biking and hiking.

Queenstown International Airport is approximately 14km away and the central business district is 7.0km from the property. Arthur's Point is experiencing a period of development in both property and business sectors leading to a growing local population.

The area has seen the development of a number of new residential, apartment , commercial and tourism developments. Property developments include Bullendale, Coronet Alpine Villas, Residence du Parc and The Woods, while tourism business include Onsen Hot Pools, Gin Garden & Bar, Cargo Gantlys Bar & Café and Canyon Brewery.

Resource Management

The property is zoned Low Density Residential on the lower half of the site and Rural General zoning on the upper half under the Operative Queenstown Lakes District Plan, while Lower Density Suburban Residential and Outstanding Natural landscape under the Proposed District Plan. A 15m wide Building Line Restriction exists along the Arthurs Point road frontage.

Resource Consent SH19001 was issued on the 6th May 2020, and was approved under Sec 25 of the Housing Accords and Special Housing Acts 2013. This consents the development of 91 residential units and subdivision consent for separate titles.

A condition of consent is the gifting of Lot 70 of 2152sqm to the Community Housing Trust to develop up to 9 units.

Resource Consent SH20116 was issued on the 14th October 2021 and amended the original consent, primarily to provide additional separate access from Arthurs Point Road, (change in roading layout), and reconfiguration of Stage 1 to provide 21 units, and a new total of 97 titles configured as per the adjoining plan.

Overview and Commentary

Queenstowns tourism market has stimulated, property, economic and population growth and fuelled our second largest industry-construction.

Currently Queenstown is experiencing substantial investment and construction in infrastructure. This includes the Town centre upgrade and Bypass Roads, Frankton Flats roading upgrade, new schools, and a range of new commercial and tourism projects across both the central Queenstown and Remarkables Park, Five Mile and Queenstown Central precincts at Frankton Flats.

Post-covid there has been an acceleration of residential sales volumes and values. In previous years, this has largely been driven by low interest rates, a scarcity in supply offset by increased demand from New Zealanders and returning expats.

More recently in line with national trends listing numbers have increased and sales volumes have slowed. However the twin pressures of demand for high end lifestyle property, especially around Dalefield rural and Millbrook, and entry level properties in new developments such as Hanley's Farm has ensured well priced properties are still receiving strong demand.

Proposed Title

Additional Information

More information can be found on www.bullenrise.co.nz

The following information is available on the website and via dropbox:

• Individual lot plans

• Subdivision plans

• Resource consents

• Sale and purchase agreements

• Planning letter

• FAQ's

Get in touch for more information

Experts

Barry Robertson

Development & Business Broker

027 433 5941

One of Queenstown’s most experienced property professionals, Barry Robertson’s career spans more than four decades. His knowledge and insight cover a wealth of markets and economic scenarios, allowing him to deliver to clients an unrivalled understanding of market dynamics.

Based in Queenstown since 1985 and working in both valuation and brokerage, Barry specialises in tourism properties, bringing together deals ranging from motels to 200+ room hotels and golf courses. He’s brokered some of the largest commercial and tourism sales in the region through his local connections and national networks.

Joining Colliers International in 2013, Barry works in combination with Steve McIsaac at the Queenstown office, brokering and consulting on tourism assets and developments across the South Island.

Barry is an Associate of the Real Estate Institute of New Zealand (REINZ), a Fellow of the New Zealand Institute of Valuers and a member of the Royal Institute of Chartered Surveyors (RICS). The family man is an enthusiastic cyclist, enjoying nothing more than exploring Queenstown’s superb tracks and trails.

DISCLAIMER: This Information Memorandum has been prepared solely for information purposes in order to assist interested parties in making an initial evaluation of the property and does not constitute advice nor purport to contain all of the information that a prospective purchaser may require. In all cases interested parties must conduct their own investigation and analysis of the property and the data set out in this Information Memorandum to satisfy themselves in all respects and not rely on the information in this Information Memorandum to make their purchasing decision. This Information Memorandum has been prepared in good faith and with due care by Colliers, but neither Colliers nor the Vendor accept responsibility hereunder for the accuracy of any part of the information contained in this Information Memorandum. Therefore the recipient/s of this Information Memorandum to the extent that they rely on the information contained herein do so entirely at their own risk. The Vendor and Colliers NZ Limited (and its brokers) expressly disclaim all liability for representations, express or implied, contained in, or for omissions from, this Information Memorandum or any other written or oral communication given to any prospective purchaser in the course of their evaluation and/or offer. This Information Memorandum does not constitute an offer for sale or purchase or otherwise.

Please be aware that Mortgagee Sales can present more risk to purchasers, we recommend you take advice from your lawyer in this respect.