Development-ready Queenstown lakefront site

A significant lakefront development opportunity has come to market in Queenstown, offering developers a consented project in one of New Zealand’s most proven residential and visitor destinations.

Located beside The Rees Hotel and Lakeside Residences and within walking distance of central Queenstown, the landholding at 409, 411 and 415 Frankton Road spans three contiguous freehold titles measuring a combined 3,027sqm and sits in a prime position on the shores of Lake Wakatipu.

Resource Consent was granted in 2025 for a comprehensive unit-titled terraced apartment development comprising sixteen three-bedroom units. Concept plans show a stepped design rising up the hill in eight tiers, each containing two apartments. The proposed design responds to the contour of the site and aligns with planning rules that protect view sightlines along this lakefront strip. The consented format is considered the highest and best use for the land, providing developers with clarity and certainty around what can be delivered.

Extensive professional reporting has been completed, including building plans, geotechnical assessments, surveying, infrastructure design, transport analysis and urban design material. The site is zoned High Density Residential under the Queenstown Lakes District Plan, enabling development that supports both residential and visitor accommodation activity close to town centres, entertainment, shopping and transport routes. While visitor accommodation is a permitted activity, the necessary consents for this have not yet been obtained for the subject site.

The land has been held by Auckland-based owners for several years and is being offered with vacant possession. Henry Napier and William Gubb of Bayleys Queenstown are taking the property through a deadline private treaty process that closes on Wednesday 21 October, unless sold prior.

The property’s combination of position, zoning and development readiness, within one of Queenstown’s most sought-after waterfront corridors, places it in a strong position, says Napier.

“Frankton Road has seen a lot of new development activity and buyers respond well to residential projects that offer lake views and easy access to the town centre.

“The beauty of this site is that developers can step straight into the next stage because the planning work has been done and the consent provides a clear pathway forward.”

Napier says the ongoing strength of the Queenstown market remains a major advantage for developers looking to commit to their next project.

“The Queenstown residential market has consistently outperformed the rest of New Zealand and new-build projects continue to attract strong interest from both local and out-of-town buyers.

“Enquiry from Australian buyers has also strengthened, supported by favourable currency conditions and increased interest in Queenstown homes following the Australian government’s changes to its capital gains tax.”

The landholding includes three frontages onto Frankton Road and sits centrally between the central business district and Frankton, the main gateway to Queenstown. It is close to key amenities including Queenstown International Airport, the Remarkables Ski Resort, the Skyline Gondola, Queenstown Golf Club and the Five Mile Shopping Centre.