Wooing Tree owners seek development partnership

09 April, 2019 by
The Shout NZ

The 25.4ha Wooing Tree site is nestled in a stunning glacial mountain valley beside Lake Dunstan.

Development of the highly-anticipated vineyard village at Wooing Tree Vineyard in Cromwell moves into its next phase, with the land going on the market.

Wooing Tree owners Steve and Thea Farquharson are seeking a 50 per cent joint venture partner to purchase and develop their 25.4ha site bounded by SH6, SH8B and Shortcut Road in Cromwell.

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The Wooing Tree wine business is not for sale and will continue to operate from the site amongst the village’s planned retail zone.

The land has recently been zoned for both residential and commercial use, bringing an opportunity for a boutique vineyard village, comprising premium residential, retail and commercial space. The iconic Wooing Tree, which the vineyard is famously named after, will take pride of place in a public green area.

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The proposed development has been carefully designed to support wine tourism and the award-winning Wooing Tree wine brand, plus offering an option for housing as Cromwell experiences unprecedented population growth.

New Zealand Sotheby’s International Realty sales associate Matt Finnigan says a development opportunity of this scale is rare in Central Otago and will appeal to buyers with experience in property development.

“With more than 25ha of prime, flat land zoned for residential and commercial development in the heart of Central Otago, this is an extraordinary site that already features a successful wine business and presents various other opportunities,” he says.

Designed to accommodate the regional population growth and further enhance Cromwell’s appeal as a premium wine and tourism destination, 2.47ha of the proposed village development is allocated to commercial activity – including high-end retail and visitor accommodation – while the remaining land is reserved for 210 residential lots, grape vines and a childcare facility.

“The vendors have put an incredible amount of time and energy into initiating a zone change and progressing this project. Site concepts have been drawn up and now it is ready for someone with a clear vision for Cromwell to take it to the next level,” Finnigan adds.

Over the past two censuses Cromwell has experienced more growth than any other area of Central Otago, with a population increase of 68 per cent. The town’s population is expected to double over the next 30 years.

“Cromwell needs a development of this calibre to accommodate growth and further enhance Central Otago’s position as one of the best wine tourism destinations in New Zealand,” Finnigan says.

Expressions of interest to enter the joint venture can be submitted to matt.finnigan@nzsir.com 

 

 

 

 

 

 

 

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