This article is from the Australian Property Journal archive
UP to NZ$100 million is expected for the nine-hectare Jack’s Point Village master planned community in Queenstown.
CBRE is representing Darby Partners in the sales process for the greenfield land, which incorporates hotel development opportunities.
The lakefront village is similar in size to central Queenstown and has an integrated mix of residential, commercial and visitor accommodation 10 minutes from the airport. Plans for the site include 110 homes starting construction this week, and a NZ$80 million five-star waterfront hotel.
The entire Jack’s Point project, which will have an end value of around NZ$500 million, was designed by Darby Partners Limited.
Principal John Darby said the offering is a rare and exciting inter-generational opportunity to be part of a new sustainable township in Queenstown’s major growth corridor.
“The Village has been designed to meet both the needs of Jack’s Point’s expanding residential community, which will ultimately reach 8,000, and the demand for a high-quality accommodation and amenities for the region’s increasing number of visitors,” Darby said.
“These are unique development parcels ready for partners looking to be part of the township with small retail, residential, business and hospitality components. Given central Queenstown is largely locked up by investors, Jack’s Point Village presents a chance to participate in this thriving community and growing visitor economy.”
Visitor accommodation will total 600 rooms, set beneath the Remarkable’s mountain range and direct access to Jack’s Point’s 1,270 hectares of natural open space, 25 kilometres of trails and the internationally acclaimed golf course.
CBRE New Zealand’s Rob Cross said the Queenstown region is not only the strongest but also the most sought-after market for hotel opportunities throughout the Pacific.
“With Queenstown RevPAR now exceeding Sydney, and the opportunities to entry extremely limited, the ability to design and built a significant hospitality offering at Jacks Point will appeal both locally and abroad.”
