182 Arthurs Point Road ARTHURS POINT, Queenstown Lakes District 9371

Sold on 18 Dec 2009

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      Commercial Hub of Arthurs Point

      • Fully Consented Village
      • 2.154 ha site

      Tenders invited before 4pm Thursday 19th November 2009 to Ray White Queenstown, 1 Church Lane, Queenstown.

      Shotover Terraces

      The Shotover Terraces property is located at 182 Arthurs Point Road

      * The property comprises 2.15 hectares of land with vistas of the Shotover Valley to the south and Coronet Peak to the north. The property has road frontage of 107.5m and is currently held in 3 freehold titles.

      * The Arthur's Point locale provides the property with access to a substantial residential catchment whilst also achieving significant visitor exposure through its proximity to popular tourist operations such as Shotover Jet, Skippers Canyon rafting, Pipeline Bungy and Fly by Wire, not to mention the historic Arrowtown settlement and Millbrook Golf Resort.

      * The area is also home to the more sedate and luxurious Onsen hot pools, historic Gantleys Restaurant and Nugget Point Hotel.

      * A major redevelopment of Coronet Peak was completed last year with an estimated $30.0m being spent upgrading the ski fields, base lodge facilities as well as dramatically increasing snow making capacity. This will affirm its status as the Southern Hemisphere's premier Ski resort.

      * The property is effectively the closest commercially zoned property to the base of the ski field.

      * The property is zoned Rural Visitor in the Queenstown Lakes District Plan. The Rural Visitor zoning is considered to be highly attractive the breadth of scope which it offers. Key performance standards within the zone include:

      * No maximum site density

      * No maximum on-site building coverage

      * Setbacks for zone boundaries only (applies only along western boundary)

      * No minimum lot size for subdivision

      * Maximum heights of 12.0m (visitor accommodation) and 8.0m (residential)

      * Resource Consents for the property obtained in 2007 / 2008 provide for a consent period of 7 years and establish a minimum of 3,500m2 Commercial activity in conjunction with Commercial Recreation, Visitor Accommodation and Residential usage.

      * However the underlying zoning promotes a wide range of alternative uses aside from those already consented, whilst also facilitating a degree of flexibility for a more intensive development of the site if desired.

      * The property ideally lends itself to a variety of uses including the following:

      * Affordable / Residential housing

      * Retirement Village / Gated community

      * Private Hospital/Educational facility

      * Tourist Hotel/visitor accommodation

      * Preliminary plans prepared for the Shotover Terraces property provide for an intensive, mixed-use lifestyle development containing a mix of private residential units, hotel/serviced apartments, retail and commercial floor space, serviced by short stay terrestrial and longer stay basement car parking.

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