QLDC Reaches Preferred Bidder Milestone for Lakeview

Date:
Apr 5, 2019

Queenstown Lakes District Council (QLDC) has appointed a Preferred Bidder as it reaches the next milestone in developing an innovative and exciting future for the Lakeview site in Queenstown.

QLDC Chief Executive Mike Theelen said that the Preferred Bidder is a talented mix of Kiwi investment and Australian development that will enhance the quality of our natural, business and living environment.

The consortium is a partnership led by Melbourne-based developer Ninety-Four Feet, Auckland-based investment company Augusta Capital and the Britomart Hospitality Group, bringing over 30 years’ experience developing mixed-use precincts.

“The consortium’s design is one we believe everyone will find exciting and that aligns with our goal of a resilient local economy. It delivers a broad mix of residential options, responding to growth in the town, and inclusive of worker and co-located living. It meets the diverse needs of Queenstown’s community and brings to life Council’s development objectives for this site making this more than just a financial proposition,” said Mr Theelen

“Alongside a range of commercial and community facilities, the consortium’s design integrates well with the landscape and existing town centre. Perhaps most importantly it is phased to deliver the high density residential product early in the programme responding to the need for more affordable and innovative solutions to the town’s housing challenges. These considerations aligned with the outcomes the Council is looking for and made them the strongest proposal,” said Mr Theelen.

QLDC Mayor Jim Boult was delighted with the progress being made on the development of the Lakeview site.

“I have no doubt that what is being proposed will add tremendous value to Queenstown and the wider district - socially, economically and culturally. I am genuinely excited by the vision for the site and I believe our community will be too. I very much look forward to implementation beginning,” said Mayor Boult.

The procurement programme engaged three potential private-sector development partners in September 2018 and issued a Request for Development Proposals. The subsequent formal design proposals and commercial offers have been evaluated against Council’s objectives for the site and a preferred bidder confirmed on 2 April.

QLDC and the consortium have now signed a Heads of Agreement and entered negotiations, working towards a formal legally binding Development Agreement.

Following the completion of contract negotiation a further announcement will include details of the development plan, programme timeline, and the consortium’s proposal for the site to achieve the QLDC vision.

Mr Theelen added, “This is anticipated to reflect Ninety-Four Feet’s development expertise and experience including residential, co-working and co-living accommodation, as well as hospitality, retail and cultural facilities.”

Alongside the selected design from the Nintey-Four Feet / Augusta Capital/ Britomart Hospitality Group consortium, other elements of the Lakeview Precinct will be delivered through other QLDC development partnerships. These include a hot pools attraction delivered by Ngāi Tahu Tourism and a new hotel developed by Well Smart Limited. A final area of the site will be retained in the short-to-medium term as tenant accommodation.

Whilst this is an exciting vision for the Lakeview site, local housing and the economy, Mr Theelen reiterated that working closely with existing tenants on the site remains an important priority for the Council.

“Council officers have been exploring a range of support options for existing tenants, including the ability to remain in the short to medium term for some. We recognise this transition will be a difficult one for some and we will be connecting them with the appropriate support agencies.”

“Ultimately when faced with the ability long term to provide homes for upwards of 1,500 resident population across a broad affordability spectrum on this wonderful site compared to only currently accommodating 300, the decision remains a tough one but the end result will offer significantly more for the community than it does today,” said Mr Theelen.

ENDS

For further information contact QLDC Strategic Projects Manager Paul Speedy via communications@qldc.govt.nz or call 03 441 0499.

The September 2018 announcement of the RFDP process can be found here: https://www.qldc.govt.nz/news/show/1988/qldc-requests-development-proposals-for-lakeview-site/