The area had lain dormant for almost 12 months after the previous lease with Queenstown Lakes District Council was not renewed because of a decision to adopt the 2018 Responsible Camping Strategy.
This prohibited temporary or permanent residential accommodation on the site in favour of recreational overnight stays.
Now BRG Queenstown Limited — consisting of Rochelle Peychers, Bryan McChlery and Georgia McChelry — have agreed to take over.
Council general manager community services Thunes Cloete said the agreement was a coup for the district, with the new lessees bringing over 16 years of campground operations experience.
Ms Peychers said the trio could not wait to redevelop the site, which had incredible views.
"We know Kiwis work hard for their money, so our vision is to provide the district with a quality and affordable place where campers can put their feet up and make memories that last a lifetime."
A main service building is to be built with kitchen and dining areas overlooking Lake Wakatipu, alongside a media and games room on the lower level.
Cabins, shower and toilets blocks, plus spa pools, playgrounds and more will be built, the company said.
The council also agreed for an active travel link — walk or cycle route — between the campground and main town centre.
Work was set to commence on February 1 and be completed in time for next summer.
BRG Queenstown Limited was established in September 2019 under the original name Getaway Queenstown Limited and was registered to Gore.
Mr McChlery is also the owner of Getaway Te Anau Limited and has held shares in a number of other holiday accommodation firms.
Ms Peychers is a shareholder of Fjordland Lobster Company.The lease agreement was discussed behind closed doors at a Queenstown Lakes District Council meeting last Thursday.
