Interest high in new homes
STAGE two of a $200 million residential development in Queenstown has launched — but you will need more than a cool million to buy there.
Fortysix terraced homes, ranging from 170185sq m, are available in the second stage of Remarkables Residences, a townhouse development in Frankton.
The majority are fourbedroom homes with four en suites, and prices start at $1.1 million.
Stage one was 56 three to five bedroom multistorey townhouses. All but one of them sold, with roughly half going to Queenstowners as investment properties or homes, according to marketers Bayleys Realty Group.
The developer is GYP Properties Pte Ltd, a subsidiary of Singapore publiclisted Global Yellow Pages Ltd.
Bayleys projects’ general manager Suzie Wigglesworth said annual capital growth in Queenstown continued to rise and the demand for residential properties remained at an ‘‘alltime high’’.
She said there was already lots of interest in stage two.
‘‘We expect these homes to sell out fairly quickly.’’
The development is master planned and designed by Aucklandbased Ignite Architects, producing ‘‘wellbuilt, stylish and lowmaintenance homes’’.
The buildings have different forms within each street to offer some individuality.
They are also configured to allow flexible living and renting opportunities and optimise sun and natural light.
Green spaces will be incorporated within the development, including a main public square and smaller ‘‘pocket parks’’ through the area, as well as good links to biking and walking tracks.
Construction is well under way on the first homes, between Hawthorne Dr and the Queenstown Central shopping development, near Five Mile.
The other stage one buyers include Aucklandbased investors and people buying them as holiday homes.
The aim is to have a ‘‘vibrant community of owners from all walks of life, from owneroccupiers through to seasonalbased workers’’.
They are expected to be completed by summer 2019.
Rilean Construction has won the contract to build the stage one homes.
Earthworks are being completed by Andrew Haulage.