The Overseas Investment Commission has granted consent for the Wyuna Station to transfer 84ha of preserve land to a residents' association, clearing the way for a new subdivision on the station.
The 170ha subdivision is part of the 8000-acre Wyuna Station, an active sheep, cattle and deer farm located on the hills on the east side of the Glenorchy-Queenstown Rd close to the Glenorchy airfield and overlooking Lake Wakatipu.
The 34 available home sites range from four acres to nine acres, and the new home owners will be part-owners of the 84ha lot of preserve land, along with a clubhouse with gym, swimming pool and horse stables.
Wyuna Joint Venture, which is behind the Wyuna Preserve development, is owned partly by Carbo Ltd, whose director, Tom Tusher, also owns the neighbouring luxury lodge Blanket Bay, and partly by Pisidia Holdings Ltd, headed by Jacks Point developer John Darby.
The sections were offered for sale in January through Browns Sotheby's, where partner Mark Harris said the roads, clubhouse and other amenities are almost completed.
"There has been good interest in this subdivision, and two of the sections are already under contract," he said.
Mr Harris said the individual sections do not require Overseas Investment approvals.
