QLDC Commonage Development block to be taken back to market

QLDC Property Director Richard Pope advised today that the sale of 9.5009 hectare Commonage Development block on Queenstown Hill had not completed and will be taken back to the market.

Over the nine months that JLL and Luxury Real Estate marketed the block, they received over 80 inquiries and had received five formal offers to purchase the land.

Despite this interest, the Council has not been able to conclude a sale on terms that it considers to be the best for the community.

“The Commonage Development block is one of the last centrally located, undeveloped pockets of land left and we want to ensure that the community attains maximum sale proceeds,” said Mr Pope.

Mr Pope said he is confident a suitable price will be achieved.

A small portion of the site currently undergoing a zoning revision through the District Plan review has also been appealed to the Environment Court. The Council is also identifying ways to improve the site access and is currently working through evaluating these options.

ENDS.

For more information, please contact the QLDC Communications team on 03 441 1802 or communications@qldc.govt.nz.