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The South Island Office (SIO) is a Christchurch-based private equity partnership backed by partners James Stringer, Tom Elworthy, Rob Farrell and Rebecca Rosie. SIO has a conditional contract to acquire Lake McKay Station ~250ha of elevated land bordering State Highway 6 east of Luggate, with sweeping views across the Clutha River corridor and Wānaka/Hāwea Basin. The land already holds resource consent for an eight-lot subdivision and a 28ha lot is already under a conditional sale at $2.6m+GST ($90k/ha), settling once subdivision and titling complete. Net proceeds (~$2.0m) would return ~18% of investor capital early - without diluting equity or upside.
The team takes a long-term, partnership-style approach to co-investment, selecting opportunities on their merits rather than sticking to a single sector -bringing a hands-on, collaborative style to deals like Lake McKay Station.
Lake McKay Station Strategy:
- Near-term - de-risk via the Lot 4 sale
- Medium-term (3–5 yrs) - farm park development across the bulk of the land - ~23 lots, ~$45m gross realisation
- Long-term (10–15 yrs) - land bank two front lots (~22ha) on SH6, potential for 150+ residential lots as Luggate's growth spreads east
- Throughout - optionality to adapt the exit as planning, market and regulatory conditions evolve
Luggate is emerging as the affordable alternative to Wānaka (sections $400–600k, house packages $1.0–1.2m), supporting demand for premium rural-residential product above the township. With RMA reform and potential Otago council reorganisation this could further unlock development potential, though neither is required for the base case.
Minimum Investment: $500,000 (smaller investment considered on request)
Offer closes: 19 June 2026, funds due 9 July 2026
To speak with the SIO team and receive a copy of the IM, please register your interest below:
