Mountain Scene understands local investor Matt Paterson’s Blackstar Properties is now owner of a Queenstown development site.
Architect Maurice Orr bought the steep 7825sq m site, beside Rydges hotel, this year for $3.1 million, getting resource consent for a $100m, 300-unit hotel.
Orr’s firm failed to settle and Blackstar exercised a back-up option. Now the site is back on the market. Tenders close September 26.