Tracey and Graeme O’Rourke operated the site as the Frankton Motor Camp for 18 years and said the new lease agreement had been a long time coming.
They had to close the business and ask residents to leave the site when their lease expired at the end of January.
Fresh terms required upgrades and included rules banning temporary and permanent residents, in favour of overnight recreational stays.
Now BRG Queenstown Ltd — consisting of Rochelle Peychers, Bryan McChlery and Georgia McChlery — has agreed to take over.
Council general manager community services Thunes Cloete said the agreement was a coup for the district as the new lessees would bring more than 16 years’ camping ground operations experience.
Ms Peychers said the trio could not wait to redevelop the site, given the incredible views it afforded over Lake Whakatipu.
"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 would be built with a kitchen, dining areas and a media and games room.
Cabins, shower and toilets blocks, plus spa pools, playgrounds and more would be built, the company said.
Work was set to start on February 1 and be completed in time for next summer.
BRG Queenstown Ltd was established in September last year under the original name Getaway Queenstown Ltd and is registered to Gore.
Mr McChlery is also the owner of Getaway Te Anau Ltd and has held shares in various other holiday accommodation firms.
Ms Peychers is a shareholder of the Fiordland Lobster Company.
Ms O’Rourke said the holiday homes on the site were "still furnished right down to the teaspoons".
She hoped an agreement could be reached with the new owners to discuss an asset sale — for about $1million.
She said the delay to the lease exchange had meant she and her husband had been unable to pay off the mortgage on their new home.
The lease agreement was discussed behind closed doors at a Queenstown Lakes District Council meeting last week.
