Queenstown Lakes District Council (QLDC) has secured $9.5M for a piece of land on Ironside Drive, with the proceeds earmarked for projects in the Upper Clutha.

After the sales commission and the land’s book value are deducted, the funds will be transferred to the Wānaka Asset Sales Reserve (WASR), which is designated to fund capital expenditure benefiting the residents of the Wānaka ward. 

The 1.8-hectare parcel, located just below Wānaka Primary School and adjacent to Kelly’s Flat, sits in the medium-density residential zone. 

It was once part of a larger council-owned site, with the larger 10.69-hectare portion selling for $15.6M in 2016.

Once settlement takes place next June, the WASR is expected to be worth $14.17M.

Wānaka Upper Clutha Community Board chair Simon Telfer said the top-up will allow the board to “invest in community infrastructure for the benefit of generations to come”.

“We continue to engage with community groups and associations to explore their ideas of substantial community projects that require funding.

“The board itself has identified some priority projects we hope to advance over the next couple of years.”

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A QLDC representative confirmed the property sold in November.

The WASR has already supported a range of local initiatives, from the Wānaka Recreation Centre swimming pool to the purchase of Mt Iron Recreation Reserve and upgrades to the new Luggate Hall.

PHOTO: Wānaka App