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September, 2017 Work 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 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. 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 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.
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+64 27 444 1104
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