Media Release from Bayleys and GYP Properties Pte Ltd
A significant milestone has been reached with work underway on Queenstown’s Remarkables Residences – a $200m residential development comprising three to five-bedroom multi-storey townhouses in the popular Frankton area.
As tourism and population growth continue to fuel demand in New Zealand’s favourite playground, the Singaporean developer has commenced construction work on the first development of this scale in Queenstown.
News of work starting is seen as “extremely positive” for the resort town, offering buyers the chance to get their foot in the door of the Queenstown market for a competitive price.
The development is being driven by GYP Properties Pte Ltd, a subsidiary of Singapore public-listed Global Yellow Pages Limited, and marketed by the Bayleys Realty Group.
Established local civil contractor Andrew Haulage has been appointed to carry out earthworks and roading, and the first sod was turned late last month with machinery already on site.
An announcement on the appointment of the building company will follow soon.
Fifty-six homes in Stage One went on the market just over two months ago, ranging in price from $860,000 to $985,000. Buyer enquiry has been strong, and only a handful of homes remain on sale in Stage One, which is scheduled for completion by the summer of 2018/19.
Bayleys Project Sales Manager John Greenwood said the company was “delighted” with the response to date.
“A good majority of enquiry in Queenstown has been from those walking in to our display suite in the Five Mile retail and business centre, just across the road from the development,” he said.
“Potential buyers have been showing high levels of interest when coming through, with real interest from the local market as well as Auckland.
“Buyers are a good mix of owner-occupiers who see the location as being at the heart of the ‘new Queenstown’, and investors who see the real need for permanent rental accommodation in the town.”
The proximity to four local ski fields makes the residences highly desirable for skiers and travellers, so those investing from elsewhere can enjoy excellent rental returns.
Master planning around the development ensures residents and visitors will be surrounded by exciting lifestyle amenities, including retail and dining.
The development offers flexibility for a range of potential buyers with a wide variety of house designs and configurations. These architecturally-designed homes include three to five-bedroom options, some with additional studio or office spaces. The ‘less-than-$1m’ price tag has been seen as “fantastic value” for many buyers to date.
The display suite at Five Mile Centre is open 10am to 4pm daily with local realtors Sheryl Williams and Mark Martin from Bayleys Queenstown available to meet potential buyers. To register interest or request further information go to www.remarkablesresidences.co.nz
About Remarkables Residences
Master-planned by Development Advisory Services and designed by Auckland-based Ignite Architects, these are well-built, stylish and low-maintenance homes that are a very modern interpretation of popular developments of this kind.
Different building forms within each street offer individuality amidst a community, while each residence is thoughtfully designed to optimise sun and natural light. Quality fixtures and fittings are used alongside energy-efficient design elements for year-round comfort.
Green spaces incorporated in the development include a main public square and smaller Pocket Parks throughout the area. There are good links to surrounding biking and walking tracks, as well as easy access to public transport.
Remarkables Residences is in one of the most accessible parts of Queenstown, close to the airport and a very short walk to retail and hospitality outlets. It is just 15 minutes from central Queenstown and Arrowtown, and 30 minutes to ski fields.
1/ The Remarkables Residences development uses neighbourhood architecture to create unique streetscapes