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February, 2020 A New Zealand hotel consortiums bought a 2125 square metredevelopment 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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