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Comprising 100 sections, it’s being developed by Sanderson Group’s Queenstown Commercial. Sanderson Group built the nearly-completed Queenstown Country Club retirement village and originally earmarked this site for its second stage.
Local Colliers agents Raylene McQueen and James O’Hagan believe the 8.87-hectare site is Queenstown’s best-kept secret due to its secluded, rural feel, north-facing aspect and 360-degree views, yet convenience to Lake Hayes Estate and Shotover Primary School.
It’s also adjacent to the Twin Rivers trail.
Civil works are under way and resource consent is said to be imminent.
The sections will range from 290 square metres to 2710sqm, with the average size 615sqm.
Titles for the first 55 sections are expected by next March, and the balance a year later.
There is an open day on the site on July 24 from 10am till 2pm.
Prices for the first stage will be released a week or two following that, McQueen says.
O’Hagan notes "the market is under-supplied in terms of sections, and we have seen prices being paid for land that is available reaching new heights".
"This is premium land, it will be highly sought after."
In addition, he says market conditions are favourable due to record-low interest rates — pointing to new-build mortgage rates as low as 1.79% — while changes to the brightline test and proposed tax policy changes favour new-builds.
The flat sites mean minimal earthworks are needed for house-builds, McQueen adds.
"We know the developer, and they want this to be their legacy in Queenstown, they want something of higher quality and something they’re proud of.
"The design guidelines aren’t super-stringent — they fit in with the environment and will actually add value."
There will also be restrictions on ‘home and income’ dwellings on sections.