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The Queenstown Lakes District Council has decided it does not want to buy a section of land at Wanaka Airport at the moment the possibility of investing in it down the track.

The council had the right of first refusal on the land, which is tagged for museum use. The council considered the investment possibility at an emergency meeting, with public excluded, at 1pm.

Council chief executive Mike Theelen said in a statement that under the land’s current terms of ownership, the council had to exercise its right of refusal within a fixed timeframe.

The public was excluded because of the commercial sensitivity of the acquisition.