Continuing Buyer Interest in Millbrook developments

Continuing Buyer Interest in Millbrook developments

Residential developments at Queenstown’s five-star Millbrook Resort continue to attract buyers from far and wide with sales totaling $7.6m in the first two months of its financial year.

Prospective property buyers are coming predominantly from Auckland and East Coast Australia to buy new and existing homes at the exclusive resort.

Following the release and sale of six properties within the 13-home Coronet Square development, including its award-winning show home that recently took out top honours at the 2010 Master Builders Awards, Millbrook also released its McEntyre’s Tarn development in late September.

The McEntyre’s Tarn exclusive five-home hamlet of single level residences, designed by multi-award-winning Mason & Wales Architects, had barely been released to the market when the cottage-style property earmarked as its show home sold off the plans.

“The ink had barely dried on the plans before it sold,” said Millbrook Property and Development Manager Ben O’Malley.

Mr O’Malley said buyers were eying the resort for its established reputation for quality, extensive on-site facilities and world-class 27-hole golf course.

“Millbrook continues to take a measured approach to continued development at the resort, but it has to be said that the decision to commit to building show homes has paid off significantly for us,” he said. “Glossy brochures are good, but backing them up with a high-quality finished product gives prospective purchasers the confidence they need to sign on the dotted line.

“Both the first and second show home completed for Coronet Square have sold, thanks in part to their wonderful presentation through the work of Queenstown-based interior designer Jean Foster.

“We’re currently working on another Coronet Square show home that should open in early 2011. The McEntyre’s Tarn show home will still be built and furnished so potential buyers can see, touch and feel the charm of these stone cottages, complete with wooden beams and stone fireplaces. “

“We’ll build the remaining four McEntyre’s Tarn cottages to a ‘shell only’ stage, meaning that buyers can choose their own interior designs and finishing.”

Mr O’Malley said buyer interest continued to be pleasing and was most likely the result of the multiple property options now available at Millbrook Resort.

“New Zealand also has a lifestyle appeal that is growing significantly on the international property market and Millbrook, in its stunning Central Otago location, provides superb architect-designed homes built by a multi-award-winning builder within 20 minutes’ drive of a booming year-round destination.

“East Coast Australia in particular is a growth area for us because of many factors. It now enjoys cheap airfares with more direct and frequent flights, is a key ski ‘bolt hole’ for Australians, and New Zealand offers Aussies an escape from hot summers and busy cities, all on tax friendly terms.

“Economically, Australia never really ‘caught the GFC cold’ that everyone else did so they’re more prepared to spend in comparison to other overseas investors right now.”

Development of land packages at the nine-lot Mill Green subdivision is also well underway with one lot already sold from the plans.

“To consolidate the results we’re already seeing, we’re about to embark on a big national and Australian marketing ‘push’ as we currently have several levels of new and existing homes available to the market, and two levels of ‘land only’ packages at different price points,” said Mr O’Malley.

ENDS

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