QLDC sells 9.7 hectares for $33m

27th February 2025 By Paul Yandall | paul@propertyticker.co.nz | @propertyticker

Queenstown Lakes District Council has sold the final block of its commonage land for $33m to an undisclosed buyer.

The 9.7 hectares of land off Vancouver Drive at the base of Queenstown Hill, known as The Commonage, is one of the last available blocks of council-owned commercial land. It was part of a much larger plot vested to QLDC by the government in 1971, which has now all been sold.

The land is earmarked for residential development and QLDC partnered with real estate agent Colliers Queenstown on the sale. The unnamed buyer is expected to release more details on its plans for the site in due course.

“Less than two years ago this property was valued at between $25m – $29m and hence the final sale price represents an excellent result,” QLDC property director Roger Davidson said

“We had considerable interest in the property after it was offered to market in 2023, both locally and from further afield, and are pleased to confirm that the contract is now unconditional with a New Zealand-based purchaser with existing local interests.”

Queenstown Lakes District Mayor Glyn Lewers said the council needed to address key infrastructure challenges in the fast-growing region, particularly those outlined in the government’s Local Water Done Well proposals.

“This sale of council’s remaining commonage land will not only help to enable this investment but will also boost the local economy through the construction of new housing,” said Lewers.

The Commonage is about 1km from the popular destination’s CBD and 7km from Queenstown Airport and the Frankton commercial hub.

It was the council’s third attempt at selling the land, with efforts in 2017 and 2021 unsuccessful.