Queenstown hotel site mortgagee sale

A hotel site in central Queenstown with state highway frontage and spectacular lake and mountain views is on the market as a mortgagee sale.

The property is in high profile Frankton Road – Queenstown’s main arterial route to both south and east - and is being marketed by sales consultants Barry Robertson and David Murray of Bayleys Queenstown.

Robertson says there could be attractive growth opportunities linked to the ownership of this elevated 1.2 hectare site, which is part of a 2.4 hectare site originally proposed as a comprehensive visitor accommodation and managed apartment complex.
Robertson says ownership of this fully consented ‘high density residential’ zoned development site is a unique opportunity that would be perfect for an investor or developer who wants immediate action - as building could possibly begin on a significant part of the property without any consent delays.

“The hotel site currently has consents to provide for a 103 room hotel, to be developed over six levels and also containing a gym, pool, spa complex, hotel reception, restaurant, bars, and two conference areas, together with underground car and coach parking,” says Robertson.

“One of the key prospects of this property is the potential for development or management of up to 300 rooms. In addition to the subject site, there are two already existing apartment complexes that present purchase or management opportunities.”
Robertson says concept plans have also been prepared for 40 rooms at the eastern end of the site, while there is further vacant land at the west end.

The hotel site is located in an established hotel and visitor accommodation precinct in the high profile Frankton road - situated less than three kilometres from central Queenstown, and seven kilometres, immediately adjacent from Queenstown international airport.

“The site has two accesses from Frankton road and comprises a partially excavated rocky knoll, which when developed, will provide spectacular lake and mountain views from the main core block and the rooms,” says Robertson.

“This hotel site is in a prime position to attract tourists - with its picturesque mountain and lake views in a central Queenstown location. With Queenstown’s rapidly growing international reputation and positive growth projections, there will continue to be a need for centrally located visitor accommodation developments such as this,” says Robertson.

Fellow sales consultant David Murray says research collected by the Ministry of Tourism says the long-term future of Queenstown’s tourism sector is very positive. The ministry forecasts continued growth in the district’s tourist numbers - with total visitor nights forecast to increase from the 2007 figure of 3.4 million to 4.07 million in 2014.

Murray says Queenstown is considered by some to be the jewel of the New Zealand tourism crown. The tourism industry is Queenstown’s most lucrative industry and one the town is most dependent on.

“The district boasts a growing international tourism reputation based upon winter sports and adventure tourism. Queenstown has world class skiing, snowboarding, bungee jumping, white water rafting, canyon swimming and heli-rafting,” says Murray.
Murray says an example of the strength of Queenstown’s tourism appeal is the influential international tourism guide – Lonely Planet –producing an edition entirely devoted to the South Island for the first time, with the guide describing Queenstown as the island’s ‘premier tourist town’.

“This is acknowledgement of the fact that a growing number of visitors are deciding to spend their entire New Zealand visit in the South Island, with many basing themselves in Queenstown,” says Murray.