The properties — 10A and 10B Boundary St and 30 Gorge Rd — are opposite the Gorge Rd carpark and beside the Recreation Ground and Horne Creek.
Occupied, respectively, by a three-bedroom home, one-bed flat and a bed-sit, and by a three-bedroom dwelling, the two joined together are 2330sqm with a combined capital valuation, reflecting almost solely the value of the land, of $6.31million.
The two were initially listed together by Bayleys in 2022, but didn’t sell.
Then, last July, the Boundary St property, only, was listed by Colliers and at first didn’t sell, either, despite six or seven offers.
However, sales consultant Jesse Johnston says "towards the start of this year we received an offer that was agreeable".
As part of the process, 30 Gorge Rd, which hadn’t been on the market, was also introduced to the buyer who then decided to buy both properties last month — for an undisclosed price.
The Boundary St property’s zoned high-density residential and the Gorge Rd one’s "mixed business".
Johnston says because the combined site’s over 2000sqm "it allows for a comprehensive development opportunity in the middle of town, which is great for central Queenstown".
One opportunity, for example, would be a multi-level, multi-unit development.
Johnston says combined with other recent central Queenstown sales — including 12 Bowen St, listed by colleague Richie Heap, and a Sawmill Rd property he also listed himself — "it’s shown there’s renewed interest in development land".
"Eighteen months ago, development sections in Queenstown weren’t moving at all, and now we’re starting to see good transactions."
