According to property records, 41 Hallenstein St — sandwiched between The Carlin Hotel and Habeke Apartments and looking straight down Beetham St — has sold for $1.7million to a Wellington buyer.
Zoned high-density residential, which allows visitor accommodation as of right, the 625sq m section had been owned by one family for about 60 years, and had a capital valuation of $2,090,000.
Local Harcourts sales and marketing consultants Megan Osborne and Amelia Cross say there was vast sales inquiry from local and out-of-town Kiwi developers as well as Aussie developers, and ultimately they presented eight offers to their sellers.
"We navigated a complex property to deliver an excellent outcome for our sellers, reflecting the site’s unique conditions.
"Our successful New Zealand-based developer is exploring a smaller-scale development for the site, and ultimately fell in love with those dress-circle views of Queenstown."
The late Kevin Carlin, who developed his eponymous hotel, had eyed up the site for a potential second stage.
When developing his property he organised the removal of unsightly power lines from in front of not only his site but also, conveniently, 41 Hallenstein St.
— PHILIP CHANDLER
