They’ll likely go like hot cakes

A boutique collection of two- and three-bedroom apartments in Redwood Group’s Riverstone Residences are being released to market, priced from $865,000.

The development at 38 Copper Beech Ave, within the Remarkables Park precinct, is part of a larger four-stage development, which also comprises the 40-unit Kawarau Villas, which are nearing sell-out — ultimately, there are plans for 132 two-level apartments.

This Saturday, a completed show home is open to view from noon until 2pm at 9 Juniper Pl, Frankton, to give prospective buyers a first-hand look.

Bayleys residential projects general manager Gavin Lloyd says the limited release comes as Queenstown’s continued expansion places greater emphasis on housing capable of servicing several segments of the market.

“Queenstown’s appeal as a place to live, work and holiday continues to create sustained demand from a broader purchase base than many residential markets.

“Riverstone responds to where Queenstown’s growth is occurring and how people use property here.”

He says for first-home buyers, Riverstone offers access to homes close to employment, education, services, hospitality and Queenstown Airport.

Flexible use: The two- and three-bedroom Riverstone Residences will appeal to first-home buyers, holiday-home owners and investors. Image: Supplied

Lloyd says the apartments, which are suitable for 365-day residential visitor accommodation, will also appeal to holiday-home purchasers and investors, who can respond to long-term housing requirements and the region’s year-round visitor economy.

Bayleys Queenstown’s Eloise Sadie Morris, who is marketing the development with colleagues Matthew Lawrence and Blake Glover, says flexibility has “genuine value” in Queenstown, because property ownership is “rarely confined to a single purpose”.

“A residence may begin as a first home, later become a rental investment or provide accommodation for owners during part of the year.

“Riverstone has been conceived around that reality.”

The homes feature open-plan living areas, connected with private, landscaped courtyards and generous outdoor spaces.

Interiors include timber finishes, engineered stone bench tops, double glazing, full insulation and heat pumps, while every home includes allocated off-street parking and a 10-year Master Build guarantee.

Redwood Group’s other local projects include the Coronet Peak Alpine Villas, Central Peaks, Alpine Quarters, The Grove, the Raddison RED hotel and a hotel development on Gorge Rd.

tracey.roxburgh@scene.co.nz