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QUEENSTOWN LAKEVIEW SITE PREFERRED BID

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April, 2019

Queenstown Lakes District Council (QLDC) has appointed a Preferred
Bidder as it reaches the next milestone in developing an innovative and
exciting future for the Lakeview site in Queenstown.
QLDC Chief Executive Mike Theelen said that the Preferred Bidder is a
talented mix of Kiwi investment and Australian development that will
enhance the quality of our natural, business and living environment.
The consortium is a partnership led by Melbourne-based developer
Ninety-Four Feet, Auckland-based investment company Augusta Capital
and the Britomart Hospitality Group, bringing over 30 years experience
developing mixed-use precincts.
The consortiums design is one we believe everyone will find exciting
and that aligns with our goal of a resilient local economy. It delivers a
broad mix of residential options, responding to growth in the town, and
inclusive of worker and co-located living. It meets the diverse needs of
Queenstowns community and brings to life Councils development
objectives for this site making this more than just a financial
proposition, said Mr Theelen
Alongside a range of commercial and community facilities, the
consortiums design integrates well with the landscape and existing
town centre. Perhaps most importantly it is phased to deliver the high
density residential product early in the programme responding to the
need for more affordable and innovative solutions to the towns housing
challenges. These considerations aligned with the outcomes the Council
is looking for and made them the strongest proposal, said Mr Theelen.
QLDC Mayor Jim Boult was delighted with the progress being made on
the development of the Lakeview site.
I have no doubt that what is being proposed will add tremendous value
to Queenstown and the wider district - socially, economically and
culturally. I am genuinely excited by the vision for the site and I believe
our community will be too. I very much look forward to implementation
beginning, said Mayor Boult.
The procurement programme engaged three potential private-sector
development partners in September 2018 and issued a Request for
Development Proposals. The subsequent formal design proposals and
commercial offers have been evaluated against Councils objectives for
the site and a preferred bidder confirmed on 2 April.
QLDC and the consortium have now signed a Heads of Agreement and
entered negotiations, working towards a formal legally binding
Development Agreement.
Following the completion of contract negotiation a further
announcement will include details of the development plan, programme
timeline, and the consortiums proposal for the site to achieve the QLDC
vision.
Mr Theelen added, This is anticipated to reflect Ninety-Four Feets
development expertise and experience including residential, co-working
and co-living accommodation, as well as hospitality, retail and cultural
facilities.
Alongside the selected design from the Nintey-Four Feet / Augusta
Capital/ Britomart Hospitality Group consortium, other elements of the
Lakeview Precinct will be delivered through other QLDC development
partnerships. These include a hot pools attraction delivered by Ngi
Tahu Tourism and a new hotel developed by Well Smart Limited. A final
area of the site will be retained in the short-to-medium term as tenant
accommodation.
Whilst this is an exciting vision for the Lakeview site, local housing and
the economy, Mr Theelen reiterated that working closely with existing
tenants on the site remains an important priority for the Council.
Council officers have been exploring a range of support options for
existing tenants, including the ability to remain in the short to medium
term for some. We recognise this transition will be a difficult one for
some and we will be connecting them with the appropriate support
agencies.
Ultimately when faced with the ability long term to provide homes for
upwards of 1,500 resident population across a broad affordability
spectrum on this wonderful site compared to only currently
accommodating 300, the decision remains a tough one but the end
result will offer significantly more for the community than it does
today, said Mr Theelen.

 

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