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July, 2017

A $200m luxury residential development in Queenstown goes hit the
market recently with the launch of a full display suite at Five Mile
The development is being driven by Singapore-based developers GYP
Properties Pte Ltd and marketed by the Bayleys Realty Group.
Remarkables Residences, a range of three to five-bedroom multi-storey
townhouses, will be constructed in Queenstowns Frankton Flats area.
Master-planning ensures they will be surrounded by a wide array of
lifestyle amenities, including retail and dining.
Stages one and two are now on the market, with finalised price ranges
for these stages between $860,000 to $985,000.
Registrations of interest through Bayleys Real Estate have been
extremely enthusiastic, with forty percent of Stage One already sold
down in the pre-launch stage.
Buyers to date have come primarily from the local and Auckland
markets, and indications show theyre being bought as holiday and
permanent homes, or specifically for rental purposes. Bayleys project
sales manager John Greenwood said the company was delighted with
the response.
These very unique townhouses are designed to meet a market demand
for accommodation at a reasonable value in Queenstown. These arent
your normal two-bed, two-bath townhouses, that dont work for
families or assist the chronic shortfall for good quality accommodation
for the area.
There is a wide variety of house designs and configurations available
with three to five bedroom options to choose from. Theyre
architecturally-designed homes that include enough bathrooms for
privacy and enclosed garages for storage or vehicles.
All of this starting at $860,000, and with nothing over $1m, represents
fantastic value for an investment either in a buyers lifestyle or as an
income generator.
Some of the houses have additional studio or office spaces, making
them flexible enough to suit a range of potential buyers.
Construction is scheduled to start later this year and the first homes will
be completed in early 2019.
Mr Greenwood said there had been a significant lift in buyer enquiry
as Bayleys geared up to go on-market.


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