This prime 6.1-hectare residential site is located at the heart of New Zealand's tourist mecca. It presents a unique opportunity for medium-density housing development. 

Brice Clark, Investment Specialist with Whillans Realty Group, is promoting the site as one of Queenstown’s best residential opportunities due to its strategic location between Central Queenstown and Arrowtown, and its proximity to the International Airport.

Located at Lot 3, Lower Shotover Road, the property is conveniently located less than five minutes drive from the Five Mile Shopping Center - home to major retailers Woolworths, Kmart, Bunnings Warehouse, PAK’n SAVE, The Warehouse, and Mitre10 MEGA. 

The property will be sold with a new Medium Density Residential zoning, allowing for terrace, semi-detached, and duplex housing. The zone has a 13-metre height limit and a minimum requirement of 40 dwellings per hectare of net developable area. In addition to the new Medium Density Residential zoning, 2,200m2 will be zoned for commercial and retail activities. 

Clark emphasizes the suitability of the location for a mix of new housing and workers accommodation. “As the Southern Hemisphere’s premier four-season alpine resort destination, there is significant demand for and a critical undersupply of housing in Queenstown,” he says.

According to Statistics New Zealand, the Queenstown-Lakes District is the country’s fastest-growing region. “The population has tripled since 2000, with median residential rents compounding by an impressive 6.3% per annum over the same period. The shortage of workers' accommodation combined with the rise of Airbnb rentals, a growing population, and the demand for holiday homes from Aucklanders and Australians, has driven the region’s median house price to NZD $1.77 million.”

Clark also notes that, New Zealand offers a favorable tax regime with no stamp duty or land tax.

“Recent transactions in the nearby Shotover Country subdivision affirm this robust property market. Last month, an entry-level, three-bedroom, one-bathroom home on Toni’s Terrace sold for NZD $1.2 million - only a week after being listed. It changed hands for NZD $1 million in July 2022. The suburb then saw its first $2 million plus sale for a new-build home on a 405 square meter section.”

Lot 3, Lower Shotover Road is available for sale by private treaty.