Archive | Central Otago

Updated: National spread of commercial sales for Colliers

Published 5 September 2017, updated 7 September 2017:
Colliers agents have reported a spread of sales from Riverhead & Silverdale in the north of the Auckland region, through Napier and down to Cromwell & Invercargill. Changed details about the Silverdale property are shown immediately below.

North-east

Silverdale

Corrected: 164 Foundry Rd:
Features: 2500m² secure fenced yard – 603m² warehouse, 189m² office & amenities, additional covered storage area, leased to Go-Bus Transport Ltd [originally written as a 3610m² warehouse, no mention of other parts of the property]
Rent: $220,000/year net + gst
Agents: Jimmy O’Brien, Ryan de Zwart & Josh Coburn

North-west

Riverhead

1047-1049 Coatesville-Riverhead Highway:
Features: 1652m², 2-tenant new retail development
Rent: $281,933/year net + gst
Outcome: sold for $5.175 million at a 5.45% yield
Agents: John Davies & Jimmy O’Brien

South of the Bombays

Hawke’s Bay

Napier

47 Petane Rd:
Features: 6439m², hotel + caravan park
Outcome: sold for $1.41 million, at an 8.5% yield
Agents: Reuben George & Dan Walker

South Island

Central Otago

Cromwell

27 McNulty Rd:
Features: 2652m², commercial site leased to Caltex
Outcome: sold for $905,000, at a 6% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

29a McNulty Rd:
Features: 4906m², tenanted industrial property
Outcome: sold for $1.625 million, at a 6.45% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

31 McNulty Rd:
Features: 5618m²,  tenanted industrial property
Outcome: sold for $1.945 million, at a 6.4% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

Southland

Invercargill

5 Liddell St:
Features: 1827m², commercial investment leased to Ideal Electric         
Outcome: sold for $1,001,500, at a 7% yield
Agents: Mark Simpson & Rory O’Donnell

Attribution: Agency release.

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Cromwell vineyard owners unveil village development plans

The owners of a Cromwell vineyard, the Wooing Tree, released plans yesterday which they said could change the whole shape of the Central Otago town.

Wooing Tree partners Geoff & Jane Bews and Steve & Thea Farquharson said their plan would enable the development of a boutique residential & commercial space designed to complement its wine business, and would allow a more fitting development for the growing town than the existing zoning provides for.

They said the Central Otago District Council would need to grant a zone change to facilitate development of the proposed Wooing Tree Estate on the 26ha site between State Highways 6 & 8B and Shortcut Rd. While the vineyard would remain, the new development could include community amenities, tourist attractions, retail, accommodation & housing lots.

Mr Bews said the plan was a step towards growing Cromwell in a way that would support its tourism, wine & residential interests: “Tourism development is key for Cromwell, and this project offers the opportunity for boutique visitor accommodation & activities, as well as community amenities for locals. We want to support the growth of Cromwell by creating a desirable living & lifestyle space, featuring sections of various sizes and an exclusive business area, all the while retaining the feeling of a vineyard village. Our plans provide for far more attractive & suitable growth than the large-lot rural-residential sections currently allowed.”

Site concepts drawn up by resource management & landscape planning experts Vivian & Espie Ltd allocate 10% of the proposed development to commercial activity, reserving 90% for grape vines, residential lots & open spaces. The wooing tree the vineyard is named after would take pride of place in a public green. The development would also provide access to Cromwell’s town centre and complement the new cycle trail proposed to link Cromwell to Clyde, Wanaka & Queenstown.

Wooing Tree Vineyard will seek to change the zoning to a mix of low- to high-density residential & light commercial. The partners have invited informal public feedback on the proposed development before lodging their application in the new year.

The award-winning, family-owned & operated vineyard is predominantly planted in pinot noir of multiple rootstocks & premium clones to give variety & complexity. It was established in 2002.

Link:
The Wooing Tree

Attribution: Company release.

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Faull’s Belhotel buys Coronet hotel from Manning

Gavin Faull and his Hong Kong-based company, Swiss-Belhotel International, have bought the Swiss-Belresort Coronet Peak at Arthur’s Point outside Queenstown from a company owned by Auckland property developer Tim Manning for an undisclosed price.

Swiss-Belhotel took over management of the business 2 years ago from the owner of the property, Queenstown Resort Hotels Ltd (Tim Manning, of Norwich Properties Ltd and formerly of Taradale Property Group Ltd). The sale was concluded by Barry Robertson, Steve McIsaac & Dean Humphries of Colliers International.

Mr Faull, chairman & president of Swiss-Belhotel, said this week: “This is a strategic move by Swiss-Belhotel International and endorses our confidence in Queenstown & the booming New Zealand tourism market.”

Mr Faull said Swiss-Belhotel would totally refurbish the hotel over the next 18 months. It has 78 rooms & suites, the only 7-lane bowling alley in Queenstown, 2 bars & 2 restaurants, and is near the Coronet Peak ski fields as well as the Shotover Jet operation and across the road from the Onsen hot pools.

Mr Faull has based his business in Hong Kong for 25 years after his 7 years as chief executive of Kingsgate International Ltd, which operated in Australia & New Zealand.

Swiss-Belhotel manages a portfolio of 125 hotels, resorts & projects in 17 countries, including New Zealand.

Attribution: Company release.

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Cromwell motorsport-related innovation park half sold

Half the 42 available sections in an innovation & technology park beside the Highlands Motorsport Park at Cromwell, in Central Otago, have been sold.

Both ventures have been created by Tony & Christina Quinn, who bought the 88ha at the start of the Kawarau Gorge Rd out of Cromwell in 2012. Harcourts is the exclusive agent for the new project.

The motorsport park opened in March last year, and Mr Quinn said the vision for the innovation park was to create a hub where like-minded people could work alongside each other designing, developing & testing cutting-edge technology.

“The motorsport park has been hugely successful and, as a result, a need has arisen to create a place where people can work on their vehicles in a controlled environment.

“This development would also suit anyone looking for a safe environment to test products including heavy-duty machinery, farming equipment or electronics. Kiwis are world-renowned as innovators, particularly in the field of engineering, and the technology park will be a place to develop & test those ideas & products.

“Our aim is to develop a world-class facility that is going to really enhance the region and attract international visitors & investment.”

Investment in the new technology park has already reached $30 million. The remaining sites include the Pitlane apartments for occupiers wanting to stay on site at the motorsport park.

Lots in the technology park range from 259-1215m² and are for motorsport & related activities, including peripheral businesses.

Harcourts sales consultant Peter Bennetts said yesterday interest in the sections had come from a range of businesses.

Attribution: Agency release.

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Melview lodges plan for McArthur Ridge

Published 1 August 2007

Hotel & resort developer Melview Developments Ltd has lodged a private plan change to facilitate development of the McArthur Ridge vineyard in Central Otago.

 

The 821ha vineyard & rural property in the Alexandra Basin has 200 in pinot noir. Melview managing director Nigel McKenna said yesterday the company would develop the property over a period of time into a world-class resort, golfcourse & residential development, but with an emphasis on activities which complement the existing land use & landscape.

 

The masterplan prepared by Studio of Pacific Architecture includes:

 

an international health & well-being spaa conference centre,a low-rise 5-star luxury resort hotel lodgean 18-hole golfcourse designed by New Zealand international Greg Turner, from Turner Macpherson Golf Designa variety of housing, andan extension of the region’s increasingly popular biking & walking trails integrated with the existing vineyard. 

Mr McKenna said Melview had already carried out community consultation to identify appropriate development options for McArthur Ridge.

 

He said the project team planning Kawarau Falls Station had had numerous opportunities to spend time in Central Otago “and we have become passionate about this part of New Zealand because of its special qualities. We can promise an approach to this land which respects the landscape and will reflect the local architecture, materials & cultural heritage.”

 

The property is held in a number of titles and ownerships, but Melview (McArthur Ridge) Ltd is the development partner responsible for the masterplanned proposal.

 

Melview’s recent developments include the Westin Auckland Lighter Quay hotel on Auckland’s Viaduct Harbour, the neighbouring luxury Lighter Quay apartments , Beaumont Quarter in Freeman’s Bay, and The Quadrant & Holiday Inn hotels in Auckland & Wellington.

 

The company has also started construction of the Kawarau Falls Station Resort in Queenstown.

 

Earlier story:

30 August 2007: UK BlueSky fund invests $300 million in Melview’s Kawarau Falls Station

 

Want to comment? Click on The new BD Central Forum or email [email protected].

 

Attribution: Company release, story written by Bob Dey for this website.

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