Sale of Lake Terrace site confirmed
The sale of the site of the old council building at 72 Lake Terrace has been confirmed with the proposed construction of a four-star accommodation development in the pipeline.
Chief executive Gareth Green said the sale was finalised to the New Zealand Development Trust late last year but the council would continue to use the site until development got underway.
The sale would not be settled until the end of next year and the price would remain confidential until that time.
Mr Green said the New Zealand Development Trust was currently focussing on investment opportunities in Taupō, which was a reflection of their confidence in the economic outlook for the district.
“It’s great we have been able to facilitate the sale of this land for something that will attract visitors to our district and have a positive economic impact,” he said.