This highlighted central Queenstown section is back on the
market. Photo supplied.
What is touted as downtown Queenstown's largest
development site is back on the market after its buyer failed
The steep 7825sq m site overlooking Queenstown Bay, between
Lake Esplanade and Thompson St, was bought early this year by
local architect Maurice Orr for $3.1 million.
Mr Orr's development company, Heaven and Earth Corp, failed
to settle, however, meaning a 10% deposit of $310,000 has
''Funding wasn't available to complete settlement,'' Mr Orr
But he did manage to get non-notified consent for a mixed-use
$100 million 300-unit ''Ice Hotel''.
The radical 10-level design, featuring glacial, snow and
ice-like imagery, is already a future-project finalist in the
World Architecture Festival Awards.
Back in March, Mr Orr said: ''We want it to be a phenomenal
building inspired by the incredible grandeur of the region,
which was in turn carved out by glaciers.
''There's a series of boxes that look like a great glacial
moraine cascading down.''
Queenstown-based Locations Realty is now running a tender for
the site, closing September 26.
Locations listing agent Chris Campbell said: ''There are a
few people who are extremely interested in this opportunity,
given the site's location to town, possible convention centre
and consent capabilities.
''This could potentially be the largest development seen in
Queenstown in the last 10 years.
''Consent's now been increased from 46 units to 300, making
it a far more viable economic opportunity. Alternatively,
someone could land-bank the site as a future investment
opportunity as consent is valid for seven years.''
The site was bought in 2004 for $10 million by bankrupt
former developer Rod Nielsen. He developed the 16-unit
Esplanade Villas out front and was granted consent for a
nine-level 46-unit apartment complex.
Mr Nielsen's company was placed in receivership in 2008
before building works started. The site was bought in a
mortgagee sale last year by Palmerston North-based Stanley
Ltd for just under $3 million.
- Philip Chandler of Mountain Scene.