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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.