A $24M Interest Free Loan For Ladies Mile
Our Queenstown syndication – a country lodge set on approximately 5 hectares – has been filling up. That’s set to accelerate with some exciting developments last week…
Last Thursday, Housing Minister Phil Twyford made the announcement we were waiting for. The government has committed a $24M interest-free loan to Queenstown District Council for infrastructure in order to provide new housing at Ladies Mile.
Click here to see the full press release.
First and foremost, this represents a huge ‘head nod’ to the endorsement and viability of re-zoning the land on Ladies Mile for residential development. Funding and providing infrastructure is a critical component to enabling development.
Ladies Mile is well placed, in close proximity to both central Queenstown and Frankton. It is one of the few undeveloped flat areas remaining in Queenstown and can be connected to major infrastructure easily. It is situated on the main transport corridor into Queenstown, thus making public transport connections more feasible. Growth projections show the need to plan for almost double the number of existing residential dwellings in Queenstown and Wanaka over the next 30 years. When questioning where they will be built, Ladies Mile has been raised as a very logical place.
You don’t need to be a seasoned investor to work out the direction this property will take. Having been in property for 20 years, it is always those that take action ahead of absolute certainty that gets the greatest returns. This is a limited opportunity to invest. A final few subscriptions are still available. Invest now with the advantage of insight into the likelihood of this property being approved for medium-high density residential. Shortly, we will discuss the impact of the Government announcement with registered valuers. If it warrants a revaluation, we will recommend to existing partners to proceed with doing so. Subject to any value uplift being confirmed, the price of investment may be increased.
Take action before subscription on this timely opportunity closes. Remember it’s money in the bank that secures subscription. The official close date is 30 September, however with increased interest following the Governments funding announcement, we encourage you to move quickly to avoid disappointment.