In the first partial release of sections in a major residential development at Queenstown’s five-star Millbrook Resort, 14 of 16 sites for the new Millbrook West development have been sold to Millbrook Country Club members after offers from members were invited by 14 December.
Friday, December 22nd 2006, 10:40AM
by The Landlord
The sections available had a price guide from $875,000 to $1.45million, using an ‘offers over’ method of selling similar to a tender. Millbrook property and development manager Ben O’Malley said the 14 sites sold for a total of just over $17 million.
O’Malley said the majority of sections went to Kiwis.
“A lot of them are locals who are planning to build and live there.”
The initial partial release of stage one sections, all large 1320sqm to 2270sqm sites, is part of a planned half a billion dollar development.
The remaining sites in stage 1A are now available to the public with stage 1B expected to be released in autumn 2007. The development, including a new nine-hole golf course designed by Greg Turner, will eventually include around 200 homes. Work is scheduled to start in autumn 2007.
The building sites are on sunny, elevated north-facing slopes overlooking the new and existing golf courses, all with 360-degree views to Coronet Peak, the Crown Range and The Remarkables mountain ranges.
