November, 2020The first 12 sections in the new $50 million Mill Farm development went
on sale last month six years after Arrowtowns Millbrook Resort bought
a neighbouring farm.
Part of The Grand Terrace enclave, theyre in Millbrooks most elevated
area a 24-lot plateau 460 to 475 metres above sea level.
They have immediate views of seven of nine new golf holes and
interlinking sheep paddocks, and spectacular mountain views further
The Grand Traverse is also studded with rocky canyons, a waterfall and
high mountain tarns.
The sections for sale range from 1644 square metres to 3333sqm.
Some have got fairway outlooks, some are rural, some have got both,
Millbrook director of property and development Ben OMalley says.
Lots facing directly on to paddocks include ha-ha walls to ensure
fences dont obstruct views while still containing stock.
Millbrooks looking for offers over $3.5m for that largest section, which
would break the resort record of $3.1m.
Offers below that, down to about $2m, are expected on the others.
Theyre being released for deadline tender, closing October 29.
We give people a price guide, OMalley says.
Its up to them to decide what they want to pay for them.
Millbrooks already sold about six others to existing members we had
a few people knocking the door down during Covid while the balance
will be retained for house-and-land opportunities.
OMalley explains design guidelines have been subtly amended for The
Grand Terrace to allow for darker, more recessive colours, all-native
planting, and some variation to
permitted roof and wall claddings.
The 18 lower Willow Glen sections, above Mill Stream and riparian
wetlands, have still to be released.
Going by recent trends, Millbrook shouldnt struggle to sell Mill Farm.
Since lockdown, an eye-watering $50m or so of new and resale
propertys been traded.
Five sales have fetched $5m-plus including a year-high $5.7m.
OMalley says high levels of interest in Mill Farms reminiscent of the
flight to quality experienced after the GFC.
We were surprised by the levels of interest and sales conducted around
the wider resort even during lockdown, which has put us on a really
good financial footing for the Mill Farm
Meanwhile, he says Mill Farms a testament to the team of contractors
and staff, led by Signal Management Group, whove had about 60
workers on the project for two years.
The new nine holes designed by Arrowtowner Greg Turner and
Scotland-based Scott Macpherson should be playable by next
September, though Millbrook members will get
some soft opening opportunities early next year.
With Millbrook set to now have two 18-hole championship courses,
OMalley says between Labour Weekend and Easter, each will open to
members and guests on alternate days.
Hopefully our guests stay another night to play the alternate course.
Source: Mountain Scene
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