By PHILIP CHANDLER
Two Queenstown developers make long-awaited appearances in National Business Review’s online Rich List.
Part-time local Fraser Sanderson, who’s developing commercial and residential property behind his former Queenstown Country Club retirement village, is valued at $225 million.
The Porter brothers, Alastair, John and Neville, who’ve developed commercial, retail and residential property at Frankton’s Remarkables Park, are valued at $200m.
Sanderson’s ranked 19th amongst NBR’s property-related Rich Listers and the Porters are 20th.
Sanderson sold Queenstown Country Club and two Tauranga villages to Arvida for $180m in 2019.
However, NBR says it’s not so well known he’s retained more than 30ha of adjoining land, which he’s developing under the banner of Queenstown Commercial.
This includes Kawarau Park, including the under-construction Southern Cross Central Lakes Hospital, medical and childcare centres, pharmacy and retail.
It also takes in the proposed 110-section Kawarau Heights subdivision between Lake Hayes Estate and Shotover Country, and a unit development, Alpine Views.
Meanwhile, NBR relates how the Porter brothers bought a 150-hectare sheep and deer farm in 1988, running it till 2015 ‘‘when the urban development was ramped up via a joint venture with Jersey-based Provence Investments and the publicly-listed South Malaysia
A year before they’d paid $8m at a mortgagee sale for what’s now Queenstown Park Station, across the Kawarau River.
NBR says they still own 66ha worth $200m in the Remarkables Park zone.
The Porters’ proposed conference centre and $100m gondola linked to The Remarkables skifield have yet to eventuate.
NBR suggests Covid’s been a potential blow to their plans, but Alastair’s quoted saying they’re doing everything to support Queenstown’s recovery.
The Porter Group’s also recognised for its contributions towards trail development, Remarkables Market and playground and support for Wakatipu High and Frankton Library.
Rich List returnees include Sir Michael Hill ($290m) and Wanaka-based Sir Clifford Skeggs, whose tourism company Southern Discoveries is based in Queenstown, while his Akarua winery has a restaurant at Lake Hayes ($175m), and new Queenstowner, Xero software accounting founder Rod Drury, who’s already become a significant local benefactor, is valued at an eye-watering $1.95 billion.