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QUEENSTOWN COUNCIL CONFIRMS LANDMARK REAL ESTATE DEAL

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May, 2019

The Queenstown Lakes District Council (QLDC) has confirmed the

purchase of 516 Frankton-Ladies Mile Highway. The acquisition is a

valuable step towards the long-term development of much-needed

community assets and services for the surrounding communities of Lake

Hayes Estate and Shotover Country.

At a public-excluded session of the 18 April full council meeting,

elected members approved the terms of the agreement to complete the

purchase.

Mayor Jim Boult welcomed the future opportunities this brings for local

residents.

As the largest population centre in the wider Wakatipu the need for

some form of community and recreation hub in the Lake Hayes Estate /

Shotover Country area is obvious. Opportunities like this to purchase

large areas of flat land are rare and this 14 hectare site has the

potential to offer a number of valuable community uses, said Mayor

Boult.

Potential future use of the land could include community facilities such

as sports fields and open parks, partial use for a transport hub or park

and ride facility. Additionally the site offers potential education uses

such as a new primary or high school.

QLDC Chief Executive Mike Theelen confirmed council officers

completed due diligence before recommending elected members agree

to conclude the purchase.

The purchase is in line with a number of council strategies and

policies, and we have been able to secure the property at a net cost of

$13.78M. This has been funded through loan funding, confirmed Mr

Theelen.

The final use of the property is yet to be determined but will, in part,

address the need for additional facilities identified in QLDC strategies

for community facilities, parks and open spaces, and regional recreation

and sports facilities.

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