September, 2017Work is now underway on Queenstowns Remarkables Residences a
$200m residential development comprising three to five-bedroom multi-
storey townhouses in popular Frankton.
As tourism and population growth continue to fuel demand in New
Zealands favourite playground, the Singaporean developer has
commenced construction work on the first development of this scale in
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.
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.
A sales programme is now underway for buyers keen to invest in Stage
Two of the development.
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
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
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.
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