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NEW ZEALAND HOTEL CONSORTIUM BUYS UP IN QUEENSTOWN

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February, 2020

A New Zealand hotel consortiums bought a 2125 square metre

development site in central Queenstowns Thompson Street.

Its spending just over $4 million for three neighbouring residential

properties that were aggregated three years ago.

The vendors are Christchurch-based Chinese interests.

A local broker says the consortium, which has hotels elsewhere in NZ,

had been looking for the right resort site. He also says theres still so

much interest in hotel development sites in Queenstown with a hue

appetite for various hoteliers from around the world to have a presence

in Queenstown.

The Thompson St site has protected, stunning lake and mountain views

and other added advantages, among those is its location. A planned

road from the proposed town centre bypass would cut a swathe from

Thompson St down to a relocated One Mile roundabout.

The three houses are likely to be rented out until the local proposed

district plan is confirmed, the broker says.

Source: Mountain Scene

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