56 and 60/64 Capell Avenue, Lake Hawea, Wanaka, Otago

Located near the expanding hospitality & retail hub of Lake Hawea we are proud to present a unique redevelopment opportunity to purchase two properties located side by side as individual lots or as a combined package. The property provides excellent holding income plus offers quintessential lake and mountain views from the upper level of the existing dwelling.

This site is zoned as Lower Density Suburban Residential under the Queenstown Lakes Proposed District Plan, that has the benefit of a visitor accommodation subzone overlay allowing visitor accommodation activities.

Option A:

Subject to a boundary adjustment Lot 1 will be 1468sqm (more or less). This parcel has the old Lake Hawea Motels, these four units are all individually tenanted at present. The original swimming pool is located at the northern end of the property.

Lot 1 has excellent redevelopment opportunity with the potential to develop three or more individually titled residences or to create a boutique visitor accommodation complex.

Option B:

Subject to a boundary adjustment Lot 2 will be 1567sqm (more or less) and has similar redevelopment opportunities as Lot 1. This Lot comprises the original house that can sleep 10 plus comfortably, featuring four bedrooms, a generous bathroom upstairs and separate toilet downstairs. The spacious kitchen is large enough to accommodate BBQ get togethers in summer and the ski teams in the winter. Set in mature grounds surrounded by established trees and hedging for privacy and shelter.

Option C:

To purchase Lot 1 & Lot 2, six or more separately titled residences could potentially be built, or a substantial motel could be created over two levels (on existing or boundary adjustment).

An opportunity to secure for yourself a rare property in Lake Hawea that offers a strategic investment or family lifestyle options. Location is premium, minutes from the beach, boat ramp and literally a stone's throw from tennis courts and bowls club.

Price by negotiation.

Contact Roger Ellis or Geoff McElrea for more information in the first instance.