Four Bayleys real estate agents acting for the mortgagee confirmed in a media release last week the partially developed 1.8ha property at 2 Kelliher Dr and 1 Ashgrove Lane has 10 dwellings on it, in various states of completion.
These are not included in the sale.
That leaves 1.4ha for sale, there being a scheme plan in place to develop at least 63 houses.
However, district plan rules could allow a new developer to increase the yield or do something entirely different, lead agent Steve Rendall, of Auckland, said.
Meadowstone resident and neighbour Dave Evans said when contacted last week he felt sorry for any people who might lose investments in Roy’s Bay Estate Ltd’s retirement village project.
He was pleased there might be an opportunity for a new owner to do something different.
‘‘We are very hopeful,’’ Mr Evans said.
The site has a long and complicated consenting history.
In 2008, Mr Evans was one of more than 100 neighbours who formed a group called Sensible Development 4 Wanaka to oppose Roy’s Bay Estate Ltd’s plans.
Mr Evans said while not opposing retirement living, concerns included size, scale, architectural fit, increased traffic and parking problems.
The Otago Regional Council also raised issues about the flooding risk from Stoney Creek.
Over several years, proposed unit numbers were gradually reduced from the 97 originally proposed to 63.
When a district plan zone change loosened development criteria, neighbours became concerned the proposal would be like any other apartment block, rather than a retirement village.
Roy’s Bay Estate Ltd is associated with Tony and Catherine Hannon, of Auckland, and Chris Holmes, of Waiheke Island.
Attempts by the Otago Daily Times to contact them have not been successful.
Roy’s Bay Estate manager Doug Walker has declined to comment.
The largest lender to Roy’s Bay Estate Ltd is Senior Trust Retirement Village Ltd, a specialist lender in the retirement and aged care sector.
Attempts by the Otago Daily Times to contact executive director John Jackson have not been successful.
