By PHILIP CHANDLER
Joni Mitchell sang, ‘‘they paved paradise and put up a parking lot’’.
Well, it’s not quite like that, but a three-level parking building’s about to go up on one of
Queenstown’s most prominent undeveloped sites.
Australian private equity firm The Eights is developing ‘The Carparks at No.1’ on a 3.4 hectare site by State Highway 6.
It’s between the Frankton cemetery and Hansen Road, and opposite the Events Centre.
The carpark building’s part of a proposed 14,000 square metre commercial, residential and retail complex called ‘No.1 Hansen’.
Work on this first building, designed by Dunedin’s Mason & Wales Architects and to be built by CMP Construction, starts next month for completion by next April.
The top two floors will have 56 freehold carparks each while the higher-ceiling ground floor will accommodate a lesser number of campervan parks.
The first 56 carparks are for sale, initially, for $105,000 plus GST.
They all come with ‘lifestyle lockers’, while there’ll be an onsite management and valet service.
Carparks can be bought for your own use or leased to the developer for three years for a net return of 5%.
They’re being marketed by prominent Auckland-based realtor Michael Boulgaris, who’s
already bought one himself.
He believes they’ll appeal particularly to Aucklanders with an affiliation to Queenstown, as
they’re close to the airport.
The developer originally planned a massive worker accommodation complex — up to 350
units in 10 multi-level apartment blocks — on the site.
More recently, Queenstown’s council has put the levelled flat part of the site into a new ‘local shopping centre’ zone.
The site, which includes a house on the Hansen Rd/SH6 corner, has a rating valuation of