Arguably central Queenstown’s best development site is being launched to the market early next year.
The local office of New Zealand Sotheby’s International Realty is understood to be preparing to market a 3689 square metre elevated site that’s literally a stone’s throw from Lake Whakatipu and the CBD, commencing at the Steamer Wharf end.
The site’s on the northeastern side of Brunswick St — an angled street off Lake Esplanade — and is occupied by three established homes on the lower flank and three substantial, alpine-style townhouses along the top.
The three homes, built, in ascending order, in the 1940s, ’50s and ’80s, are on prime high density-zoned land crying out to be developed for a high-end hotel or apartment complex boasting, of course, uninterrupted world-class lake and mountain views.
Under the proposed district plan’s ‘urban intensification variation’, a new development could conceivably go 16.5m high, compared with the current permitted height limit of 7m and current restricted discretionary height limit of 10m.
The luxury townhouses, though dating back to the early 1990s, are still in mint condition and would doubtless command top dollar for any new owner if let out for short-term visitor accommodation.
Under construction on the other side of Brunswick St is the ultra-luxury Roki Collection hotel, comprising 15 suites, which opens next July.
Also bordering the site are the Q1 luxury apartments on the corner of Brunswick St and Lake Esplanade, and, at the back, Deco Backpackers and Rotary Park.
Interestingly, at the base of the site is a vacant 582sqm section.
The townhouses were built on the site of a home that formerly belonged to well-known local councillor, the late John Donaldson.
Subsequently, the properties below were aggregated so the whole block can now be presented as one offering.
