RCL sells 72 sections in three hours

David Wightman
David Wightman
It took just three hours for 72 sections to sell in Queenstown's newest large subdivision.

Hanley's Farm developer RCL Group sold the sections, ranging in size from 399 square metres to 648sq m, on April 8.

Prices were between $248,000 and $335,000 - meaning the company will be paid more than $18million once titles are issued.

Melbourne-based RCL has now sold 247 sections in four stages at the development.

It has approval for a further 1503 sections but chief executive David Wightman said sales were on hold while it focused on delivering the first four stages.

''We've obviously got a lot of lots to get through.

''We won't hold back releasing for the sake of it but we've always been conscious of releasing too far ahead of the programme.''

A waiting list has closed with $2000 deposits returned to those who missed out.

RCL expected titles on the first two stages to be issued before Christmas but it did not have a date for stage four yet.

Civil works have started on the first two stages. 

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