The Opportunity

Proximity, Opportunity, Scarcity - three words that explain why properties in Queenstown’s coveted and tightly held Park Street precinct seldom come to market.

Over the past six months Colliers has sold four of the neighbouring properties held in the vendors portfolio. The vendor plans to retain this site have changed so the last opportunity to acquire part of this strategic land holding now presents.

Smack bang in ‘dress circle’ Queenstown, this property is literally a stones’ throw to the town centre. You can’t get much closer. All the amenity of the Queenstown town centre is on your doorstep. A five-minute stroll along tree lined streets or through the historic Queenstown Gardens takes you into the heart of Queenstown.

Unlike many of the other properties in Queenstown, this property is a flat, easy to develop landholding. There is no difficult slope to navigate or expensive rock breaking required to take advantage of the redevelopment opportunity.

For someone with vision the existing dwellings could serve as a renovation projects - the location is ideal for short term holiday rental. Alternatively, the existing dwelling could make way for a multiple dwellings scenario, an architectural residence or Queenstown bolthole.

The freehold land is currently zoned Medium Density Residential in the Proposed District Plan (PDP). The current zoning would accommodate several development scenarios. The zoning allows a maximum site density of one residential unit per 250sqm net site area, 45% building coverage and a build height of eight metres.

The Queenstown Lakes District Council (QLDC) recently endorsed an Urban Intensification Variation to the Proposed District Plan (PDP). The variation provides for increased densities and heights of buildings in existing urban environments, allowing for the development of smaller and attached-style housing near public infrastructure. This property is located in an area identified for future intensification under the variation. If approved this land could become zoned High Density Residential.

The property also benefits from major infrastructure improvements with both Park Street and The Queenstown Gardens forming part of the Queenstown Town Centre Upgrades project. Significant investment has been made to connect the town centre to the lakefront, improving pedestrian accessibility, promoting cycling and reducing vehicular traffic.

LAND 840m² options