Alexandra property developer Russell Ibbotson is planning to develop the 16ha block into 20 roughly 4000sqm titles, with two areas in common of about 4ha each which would adjoin each of the properties.
Mr Ibbotson bought the property six weeks ago and is working through planning and resource consent processes with the Central Otago District Council.
The common areas would be a real asset to property owners and could be used for horses, grapes or stonefruit, he said.
"There is real pressure on accommodation, and new subdivisions are much needed in Alexandra," he said.
The price of land was increasing and the Government had asked local authorities to free up land to reduce pressure, he said.
The subdivision would be called the William Hill Estate in recognition of William (Bill) Hill Grant, one of the original pioneers of wine in Central Otago, Mr Ibbotson said.
The current stone wall entrance to the property would remain as part of the development.
