A 10.69 hectare block of prime residential land has been listed for sale in Wanaka by the Queenstown Lakes District Council with Bayleys, Wanaka. The area known as Scurr Heights is being sold by tender.
The decision of the council to sell the land at this time is based on the “desire to transfer the value of this land to other significant community projects or acquisition of other strategic land for the next generation”.
There would be lake views from properties built within this area. The location would also be considered central with ability to have children walk to the schools.
The land is the area located to the south of Aubrey Road, which is a potential 100 section subdivision, under current zoning rules. The district plan changes could however see this area changed into a medium density zone where there could be up to 140 sections.
Funds generated have not been officially allocated, however a contribution towards the cost of the new swimming pool currently under construction has been factored into the budgeting of this project.
Tenders close on May 12th for this parcel of land with a rateable value of $4.8 million.
The land has wonderful mountain views with the upper sections having lake views.
Bayleys have also advertised another significant piece of development land in Aubrey road running down to the Clutha River. This 39 Ha block has the potential for up to 200 residential sections.
Despite the potential numbers of sections coming on stream the Wanaka market feels far from flooded. Enquiry directly to the Willow ridge team for their new Alpha Ridge, Three Parks, The Triangle, Timsfield and Luggate Park developments is strong.
The Wanaka real estate market is as buoyant as ever at the moment, with the shortage listings reported throughout the country also affecting buyers in our local market.