Business South August 2020

8 | Volume 29 | Issue 4 businesssouth Surveying • Planning • Engineering Supplying integrated land development solutions to Winton PATERSONPITTS GROUP Queenstown 03 441 4715 Wanaka 03 443 0110 Dunedin 03 477 3245 Christchurch 03 928 1533 Cromwell 03 445 1826 www.ppgroup.co.nz i i ll . . . Your Land Professionals. QUEENSTOWN » Winton Diversify to thrive the message for Central Otago Kim Newth A leading Australasian property developer with strong ties to Queenstown and Central Otago is highlighting the need to support diversified economic activity in the region. Winton has invested around $650 million in the local economy over the last 10 years and currently has a number of exciting projects unfolding in Wanaka, Queenstown, Arrowtown and Cromwell. While the local market has proved buoyant post- lockdown, Winton CEO Chris Meehan says the Queenstown regional economy will still need “major and deliberate” investment going forward. “Winton is committed to seeing Queenstown Lakes and Central Otago continue to thrive in the long-term and, to do that, we need to support our construction industry and diversify away from the traditional tourism sector to create a more sustain- able local economy. “Like everyone, we want to see the tourism sector thriving again but until our borders are open to overseas tourists it is capped at domestic demand, so for now we need to prioritise other GDP streams.” While both local and central government are already investing in projects aimed at recovery, Chris suggests the real measure of success will be the number of jobs generated and the economic momentum arising from every dollar spent. “As a community, we need to get behind local businesses and create jobs for local people to accelerate the recovery in the Queenstown Lakes District.” For property investors such as Winton, action to streamline and speed up the resource consenting process would also be helpful in the recovery. As Chris observes, that would accelerate the roll-out of planned projects at a time when many hardworking locals affected by COVID-19 need jobs. In spite of the Queenstown area facing chal- lenges ahead as a result of losing its international tourism market, Winton had a very busy June in terms of sales, particularly in the Wanaka market. “Enquiry is up and agents report good numbers of interested parties. Work continues across our Northlake project, our largest residential community in the region, with new stages under construction.” Chris observes that buyers have become increas- ingly discerning, with a preference for high quality housing in good locations. Winton sets the bar high in design and product, making it an attractive option in the current environ- ment. Other master-planned projects for Winton in the region include Northbrook (Arrowtown), Waterfall Park (Arrowtown), Ayrburn Farm (Arrow- town), River Terrace (Cromwell) and a joint venture with Australian-based RCL Group at Hanley’s Farm (Queenstown). One of the flow-on effects of the global pandemic is that more New Zealanders are now holidaying at home, with Wanaka and Queenstown receiving a lot of bookings. Both have long been recognised as two of the country’s most attractive holiday destinations. Winton is optimistic that this will also flow through to the market. “We anticipate that the opportunity for holiday makers to become regular visitors and to invest in housing in this area will lead to further sales activity.” Even in challenging economic times, Winton is keen to continue investing in the Lakes District and will adapt to the domestic market as needed in coming months. “As a community, we need to get behind local businesses and create jobs for local peopleto accelerate the recovery in the Queenstown Lakes District.” Chris Meehan