Some of the most prime lakefront residential sections in Queenstown are for sale on Kelvin Peninsula.
The 18 sections, and another 15 being released later, adjoin Lake Wakatipu’s Frankton Arm between the Hilton hotel complex and the Kingston highway south of the Kawarau Falls Bridge.
The subdivision, called Lake’s Edge, is being developed by Winton Partners NZ Ltd, whose director Michaela Meehan recently shifted from Sydney to Queenstown.
The company bought the undeveloped stages two and three of Kawarau Falls Station – four hectares – from the receivers of Auckland developer Nigel McKenna’s Peninsula Road Ltd.
McKenna’s Kawarau Falls stage one companies also crashed but financier Bank of Scotland International continued to build the Hilton hotel complex, which opened in 2011.
Stages two and three are consented for another three hotels but the developer is starting with the residential development.
Lake’s Edge sections range from 515 square metres to 1047sq m and are priced from $500,000.
A few lakefront sections are priced at over $1 million.
Titles are expected to be issued next year.
Ray White Queenstown is marketing the subdivision as “Queenstown’s best lakefront development”.
Nowhere in the area has such amazing views and location, salesperson Cameron Reed says.
“Opportunities to own and build on sections as unique as Lake’s Edge simply don’t exist.
“From the absolute lakefront sections to the elevated sites with stunning views, each offer that something extra special, with design guidelines that will protect the views from all sections.”
Ray White did a soft launch of the development at the recent NZ Open golf tournament at Arrowtown and this weekend is releasing it on-site, from noon on Saturday.
Reed tells Mountain Scene: “The feedback we had during the NZ Open was fantastic and people are excited to get on-site and gather more information about the development.”
Lake’s Edge is also situated within the original Kawarau Falls Station, where runholder William Gilbert Rees, the founder of Queenstown, built a colonial-style homestead in 1863.
The run-down homestead was demolished in 1986 by the Dunedin Methodist Mission, which at the time ran a holiday camp on the property.
Under the existing resource consent issued to McKenna, the stage two/three development will include a precinct known as Rees Place.
This will comprise the last two remaining buildings built by Rees – a small dairy and a relocated meat store – along with two original laurel hedges, historic trees and interpretation panels.