A major obstacle to the development of a $125 million shopping centre on the site of Queenstown’s ‘Hendo’s Hole’ has been cleared.
Rival developer Shotover Park yesterday dropped its judicial review into a Queenstown Lakes District Council decision allowing the Frankton Five Mile shopping centre to proceed.
Shotover Park – headed by developer Alastair Porter – was due to put its case to the High Court yesterday.
The court, however, was advised that the parties – Shotover Park, Five Mile developer Queenstown Gateway, QLDC and its planning arm Lakes Environmental – had settled over the weekend on terms acceptable to all parties.
It’s understood those terms are confidential.
The shopping centre’s anchor tenant will be a Countdown supermarket.
Queenstown Gateway, headed by Auckland developer Tony Gapes, received QLDC consent for its seven-building mall last August.
The proposed centre is bordered by the Events Centre, State Highway 6, Grants Road and Queenstown Airport. The site is known locally as ’Hendo’s Hole’ after bankrupt developer Dave Henderson’s Five Mile project failed.
Queenstown Gateway had appealed against a Pak ‘N’ Save supermarket and Mitre 10 Mega hardware store on nearby Shotover Park land.