Boutique subdivision begins

Work on a 48-section subdivision is under way on the Lake Takapo/Tekapo waterfront.

The Station Bay project, between Lakeside Drive and State Highway 8, is being touted as offering ‘‘a variety of unique home and land packages due for staged release’’, according to its website.

This first stage has a choice of six different architecturally-designed residences ranging from 318 square metres to 767sqm.

It is one of Auckland-based Covington Group’s developments. Covington is a New Zealand-owned investment company which is also is working on an urban apartments project in Grey Lynn, Auckland, and a subdivision in Waikanae, on the Kapiti Coast, according to its website.

Covington Land developer Jonathan

Speedy did not want to comment, preferring to wait until the Station Bay launch in three to four weeks’ time.

L J Hooker real estate agent Steve Howes said though his company was not representing Covington he thought Station Bay was in a great position with close proximity to the village and ‘‘stunning views’’.

He said the size of the sections looked manageable and fairly low maintenance. He expected they would appeal to out-oftown buyers.

‘‘Most of my buyers are looking for something a bit larger with four bedrooms and two bathrooms for their children and grandchildren to enjoy.’’

The market was at a low point due to border restrictions stopping the flow of tourists but Howes anticipated once they re-opened Takapo/Tekapo would once again be back in the spotlight.