Contact Energy and the Red Bridge River Park Trust have agreed on sale conditions for a parcel of Luggate land sought by the charitable trust to develop a community river park.
The resolution follows more than a year of discussions between long-term tenant of the land and trustee Lewis Verduyn-Cassels and Contact over the proposed sale of the 0.4ha property.
Mr Verduyn-Cassels said the trust was grateful for the support of the Wanaka Community Board and the many donors who had made the project possible.
As the original proposal for the river park included neighbouring land that was sold to other individuals, the trust would look at revising the project plan to reflect the changed ownership.
As part of the agreed sale process, the trust will pay a portion of the market sale price of the land up front and further settlement is due within the next five years.
Contact is also finalising arrangements to gift a separate 1.9ha block of land next to the Luggate Bridge to the local community, most probably through the Queenstown Lakes District Council.
Contact has been progressively selling parcels of land it owns in the Clutha region in recent years, following an announcement in 2012 that it was no longer going ahead with a proposed hydro generation development in the area.
