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Massive offering: A 190.68-hectare parcel, in two titles, for sale below the Remarkables mountain range

By PHILIP CHANDLER

It’s being marketed as the best remaining development site in the Whakatipu Basin.

With stunning 360-degree views, the 190.68-hectare block — sitting below the Remarkables range, bordering Lake Whakatipu and surrounded by Jack’s Point to the north, Lakeside Estates to the south and State Highway 6 to the east — hits the market today.

It’s split into two titles — a 27.22ha block above the lake, which is accessed from Jack’s
Point, and a 163.46ha block that has legal access off SH6 — though it’s only being offered as one parcel.

The vendor, Auckland-based Homestead Bay Trustees Ltd, has already sold 12 lots, averaging just over a hectare apiece, for about $3 million a pop.

The company had intended selling off the balance of its land in stages, and has already completed substantial civil works.

However, listing agent, Bayleys Queenstown’s Chris Campbell, says it’s now decided
to concentrate on development projects in Auckland.

‘‘They’ve just decided the market is ready for this opportunity, so they’re selling the
whole thing in its entirety.’’

Campbell says the land presents any number of development opportunities that’ll ultimately depend on zoning and planning decisions.

However, he thinks it could lend itself to the type of high-end development you see at
both Lakeside Estates and Jack’s Point.

In line with the contours of the land, sections could range from 600 square metres to a
hectare, he suggests, while there could be some ‘‘incredible super sites’’ neighbouring the waterfront.

Masterplanning for the smaller block has already included options for a marina, five-star
hotel and managed and serviced apartments.

Expecting phenomenal interest: Bayleys Queenstown agent Chris Campbell

As to what the land will fetch, Campbell says it very much depends on what  development options can be realised by an investor/developer.

‘‘That’s where someone with the right vision and experience can unlock its value.’’

Campbell notes the site also has historical relevance as it was part of an original 900ha high country station, then known as Woolshed Bay, owned by Queenstown founder William Gilbert Rees in the 1860s.

In the late 1980s, the land was used in a scene in the American fantasy movie, Willow, which was partly shot in Queenstown.

Ironically, during the shoot Campbell was a stand-in for one of its stars, Val Kilmer.

The property goes live today via the website, homesteadbay.co.nz

Prospective buyers who register can get access to a ‘data room’ containing extensive
information on the offering.

‘‘I would say the inquiry we’re going to get both nationally and internationally will be phenomenal,’’ Campbell says.

Bayleys is marketing the property alongside international realtor, Knight Frank.

Tenders close June 3.

scoop@scene.co.nz