A gently-sloping site within central Queenstown’s premier dress circle — boasting numerous development options — is for sale for the first time since 1938.

With a modernised 1930s two-level, three-bedroom home, 9 Hobart St’s only a few minutes’ walk from the CBD, lakefront and Queenstown Gardens, and has well-developed trees and landscaping.

A sizable 1479 square metres over two titles, the property’s zoned medium-density residential but with an advantageous proposed rezoning to high-density residential.

It’s been listed by local Colliers commercial sales broker Alastair Wood and colleague Tim Thomas and is for sale by deadline private treaty, which closed yesterday.

Noting it’s directly opposite the Copthorne Lakefront hotel, Wood says ‘‘you could do anything from intensive tourism accommodation through to some high-quality townhouses, or just landbank it and do up the existing house’’.

He points out land in the area’s been selling for about $4000 a square metre.

Though the rateable value’s $5.56 million — of which the land value’s $4.88m — Wood says ‘‘we think it’s probably better than that’’.

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