by The Landlord
Commencement of the development work coincides with Queenstown beeing cited as a shining example of the ability for property investment to create lasting economic benefit to the country.
At the annual conference for real estate agents last week, REINZ president Murray Cleland said that Queenstown provided conclusive evidence of the great benefits a vibrant property sector can produce.
“From the time of arrival, the single biggest impression that strikes you is Queenstown’s progressive and active property development activity.”
Compared with other cities in New Zealand, Queenstown felt almost like another economy, if not another country, and was an “inspiring town”, Cleland said.
At Millbrook, an earthworks team is onsite, shifting and shaping approximately 250,000 cubic metres of soil.
Stage one will consist of 59 sites on 60 hectares of land to the west of the existing resort, a new nine-hole golf course designed by New Zealand golf legend Greg Turner, and a new driving range.
Adding to the existing 143 privately owned properties within the resort, the first 25 sites were sold in December 2006 and July 2007.
Total sales for the first 25 Millbrook West sites have added up to more than $31million.
The building sites are all on elevated north-facing slopes overlooking the new and existing golf courses, some with views of Lake Hayes, and all with views to Coronet Peak, the Crown Range or The Remarkables mountain ranges. The majority of sites have been bought by Kiwis, many of them existing property owners at Millbrook.
Millbrook property and development manager Ben O’Malley says Millbrook has strict design controls in place on the land to ensure consistent high standards of style and design for developments at the resort.
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