Taramea Square – Beautiful New Investment Opportunity

Media Release from Millbrook

5 April 2012

Taramea Square – A Beautiful New Property Investment Opportunity At Millbrook

The latest 12-home neighbourhood at Queenstown’s five-star Millbrook Resort is poised to be launched onto the market, and it’s a stunner.

Nestled within the heart of the new Coronet Nine golf course, the hallmark of Taramea Square is an architectural style perfectly tuned to the Arrowtown climate and its rich agrarian past. The homes combine all the character of a Central Otago cottage with all the space and comfort of a modern dwelling.

The Taramea Square neighbourhood boasts a selection of four home options, ranging from the timber-clad ‘Ski Barn’ to Courtyard homes with multiple indoor and outdoor living spaces. Buyers can vary the look and style of their selected home through a series of design options to match their lifestyle requirements.

The varied house designs will result in a more diverse streetscape through varying scale, colour and materials, while retaining architectural consistency.

Blending contemporary alongside traditional styles, and featuring schist, cedar, pitched timber ceilings and exposed beams and trusses, the homes are all designed by multi award-winning firm Mason & Wales Architects. Finer detail has been added by Ingrid Geldof Kitchen Design and landscape design by Baxter Design Group.

Millbrook Property and Development Manager Ben O’Malley said the resort continued to look to the future and on-going development success with a varied menu of property buying options.

“Over the past four years we have developed and built homes at Coronet Square and McEntyre’s Tarn, as well as beautiful sections at Mill Green,” he said.

“Our strategy has been to offer a range of homes and sites of varying sizes, features and price points to appeal to a wide market.

“We’re relatively bullish about the market and confident enough to roll out this next development by building ahead of sales to offer new and different homes that are complementary to everything we have on site already.

“Construction costs and interest costs are as low as they will be for some time and we believe that the market is starting to gather momentum.”

The new homes will be on offer at a different price point (approximately $1.5 to $2.0m depending on the home and options selected), sit on freehold parcels of land ranging from 709m2 to 1,023m2 and are very unique in terms of design, location and size.
Located between the 3rd and 8th fairway of the new Coronet Nine, Taramea Square is just a short distance to all the magnificent facilities Millbrook has on offer, is bathed in year-round sun and within easy reach of walking and biking trails around Millbrook, to Lake Hayes and Arrowtown and further afield.

The first release of Taramea Square homes is being made available to Millbrook members from Easter weekend, and subsequent sales will be through the Millbrook Realty Ltd sales team.

Voted ‘Best Golf Resort in Australasia’ in 2011, Mr O’Malley said Millbrook property had continued to be hugely popular with golfers, members, and property investors alike.

“Many prospective property buyers are coming from East Coast Australia, particularly given the increasing frequency of direct flights to Queenstown, but Auckland continues to be the largest market,” he said.

Mr O’Malley said an increase in permanent and semi-permanent residents at Millbrook had also been a “pleasing” recent trend, adding to the already relaxed Millbrook community spirit.
“New Zealand 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 that are beautifully finished within 20 minutes’ drive of a booming year-round destination,” he said.

“With every new development we have constructed at Millbrook over the years we have continued to enhance Millbrook’s reputation for quality and buyers have responded to that by continuing to invest at Millbrook. We are confident that this new development will only add to the Millbrook reputation.”

ENDS

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