It is third time lucky for the Queenstown Lakes District Council as it receives "considerable interest" for a major slice of development land.
The Queenstown Lakes District Council put the 9.532ha commonage block of land on Queenstown Hill back on the market in January, listing it with Colliers.
Expressions of interest closed last month, but it might be several weeks before the council makes a decision.
Two previous attempts to sell the land have resulted in sales not getting over the line.
The council attempted to dispose of the land in 2017 and 2021, but on both occasions was unsuccessful.
A district council spokesman said yesterday: "We’re pleased to report considerable interest in the commonage land since it was offered to market, both locally and from further afield.
"We’re continuing to work through the offers received and will be able to provide more information in the coming weeks.
"Given the need for confidentiality, we’re unable to provide further comment at this stage."
Under its medium-density zoning, there could be one dwelling per 250sqm, though under a proposed variation there could be up to three units per 450sqm.
Colliers declined an opportunity to comment yesterday.
About 30ha of commonage land, largely developed between 1975 and 2002, was carved up into sections that now host some of Queenstown’s dearest and most desirable homes.
The last portion to sell ended up as an upmarket, gated community, The Peak, which was developed by an Australian party — the last section, 1858sqm, sold last year for $4.5million.
The district council spokesman said the property staff’s review of offers received would take "a number of weeks".
Earlier reports have suggested the remaining commonage land could sell for more than $20m.
