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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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