It has bought two adjacent Robins Rd properties opposite Queenstown Primary School that were, until 2019, home to a Montessori childcare centre.
It is planning 18 three-level, dual-key townhouses over four buildings — two-bedroom homes on the top two floors and one-bedroom studio flats on the ground floor.
They are all priced from $1.6 million to $1.7m, plus GST, and six have sold already.
Subject to resource consent they will have 365 days a-year visitor accommodation approval.
Wolfbrook’s Central Otago sales and acquisitions specialist Eoin Miles says "so far all the buyers are buying them with the intent to use it as a holiday home and rent it out when they’re not in town".
What is fascinating, he notes, is the amount of interest from across the Tasman, piqued by the strong Aussie dollar and tax changes in that country’s recent Budget.
Also striking a chord, he says, is the complex’s handiness to Southern Infrastructure’s proposed Boundary St cable car terminal.
The 18 townhouses also come with an off-street carpark each.
Miles says it’s hoped construction of 25 Robins Road, as it’s called, will start before Christmas or early next year.
Work is already under way on Wolfbrook’s seven-townhouse Sawmill Rd complex, with eight dual-key townhouses on nearby Gorge Rd kicking off about September.
Meanwhile, it has sold 25 out of 42 terraced townhouses for its Twin Rivers Terraces complex in Queenstown’s Shotover Country with construction imminent.
