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POPULAR QUEENSTOWN SUBDIVISION FULL

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October, 2019

A final milestones been reached in the development of Queenstowns
massive Shotover Country subdivision.
The last of its 810 residential lots went unconditional this month.
Its a major achievement for principal developers Sharyn and Grant
Stalker, whose main aim was to fill pent-up demand for locals,
particularly families, to get their feet on the property ladder.
That demand was proven time and again by how quickly various stages
sold out.
Remarkably, however, it took the couple five years to rezone their 202
hectares from rural to residential.
Theyre indebted to lawyer Warwick Goldsmith and planner/surveyor
Neil McDonald for their help in getting the plan change through.
They believed in the project when the council didnt support it, Grant
says.
Four months after the plan change became operative in December,
2012, the first titles were issued.
The average section sale price then was $158,000, compared to
$420,000 now, giving early buyers, in particular, good capital gains 
houses now routinely sell for about $1 million.
Grant says the market, in the form of resales, effectively set successive
price levels for the 20-plus stages.
Section sizes ranged, mostly, from 450 square metres to 960sqm.
Unusually, the entire subdivision was sold by the developers themselves.
Sharyn says they quizzed all prospective buyers about their
circumstances and their intentions to build  land investors were ruled
out.
Their guess is that 80 per cent of sections have been bought by
prospective owner-occupiers, and the balance by investors whove built
rentals.
Grants surprised how many buyers have added one- or two-bedroom
granny flats, which theyve rented out to assist their mortgage
repayments.
Airbnb, on the other hand, isnt allowed in the later stages of Shotover
Country.
One of the biggest buying triggers, the couple believe, has been
Shotover Primary School, which they lobbied hard for.
Its become a community hub and its rapid growth has been exciting to
see, Sharyn says.
The Stalkers personally helped the school over its first five years, and
Sharyn still supports its music room, called Sharis Music Suite.
They also gifted three hectares of reserve land which has been
developed into a multi-purpose sportsfield for school and community
use.
Sharyns also played a major role in landscaping the subdivision, and
with ongoing maintenance, even if its now councils responsibility.
As part of the plan change, land was also gifted for a 44-home
affordable housing development undertaken by the Queenstown Lakes
Community Housing Trust.
Shotover Country still has land set aside for commercial and medium-
density unit development, which the Stalkers son Kristan will start next
year  its in the final stages of the consenting process, Grant says.
The couple earlier called for expressions of interest for a commercial
development, but they found limited demand, possibly due to the
volume of activity on the Frankton Flats.
We appreciate the people and families who took advantage of
opportunity, risk and rewards to purchase Shotover Country lots and
helped make the community it is today, the Stalkers say.
We are only sorry we couldnt meet the demand of all interested
parties, as the numbers on our database continued to grow.

Source: Mountain Scene

 

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