The Queenstown Lakes District Council is selling up to 1.8ha of prime real estate in Wanaka with the rateable value of $9 million.
But first it has to find a real estate agent.
The giant lot of land is in central Wānaka, directly opposite Wanaka Primary School. The land offers views of the lake, close proximity to town, the high school and the primary school.
The Wānaka-Upper Clutha Community Board recommended the council sell the land at a board meeting in late March, so QLDC is seeking the right real estate agency to sell it.
"This is likely to take several months and, once completed, will help inform council on the most appropriate approach for marketing and selling the property," a council spokesman said.
"Early indications are that it will be ready to market in spring."
Bayleys Real Estate Agency branch manager Loua Boshoff said while the capital value is $9million, the actual market value will depend on how prospective purchasers assess its potential.
"Given the nature of the site, a detailed feasibility study would be required to determine its viability and likely yield, which makes it difficult to comment precisely on value at this stage."
The site is zoned low density residential.
