A familiar Wanaka landmark is likely to be lost following the sale of the White House Restaurant and Bar on the corner of Dunmore and Dungarvon Streets.

The 1930s art deco building at 33 Dunmore Street, originally a holiday home and one of the last remaining residential dwellings in Wanaka’s central business district, has been sold for a multi-million dollar sum to a group of investors who say they are not yet ready to reveal their plans for the site.

NZ Sotheby’s International Realty Wanaka sales associate Craig Myles said the 1017sqm property is being purchased for a confidential figure by a group of investors, with settlement due in 2020.

“The group are looking forward to advancing their plans to redevelop this prominent site within the town centre,” he said. “Plans are in very early stages as the group has only recently secured the site under contract.”

“Further details on the redevelopment should be available some time in 2020. Unfortunately the purchasers are not in a position to share more publicly at this stage.”

This image shows the White House site adjacent to the now cleared site at 8 Dungarvon Street. PHOTO: Supplied

The property’s rating value is listed at $1,850,000 (July 2017). Current owner Peter Scott purchased the property in 1993 for $217,500.

Peter declined to comment on the sale.

Two more dwellings neighbouring the White House, at 8 Dungarvon Street, were demolished in September. The two buildings (originally motel units) had been rented out since an American family purchased them approximately 20 years ago. 

Craig told the Wanaka App in September it was yet to be determined what would eventually happen at 8 Dungarvon Street. The centrally located section might be used for car parking in the short term while various development options are considered, he said.

The Dungarvon Street properties were on a quarter acre cross lease, on land zoned for multiple uses including commercial (retail/office), higher-density residential and visitor accommodation.

The White House site is zoned as Wanaka Town Centre in the Operative District Plan and the Proposed District Plan.