New land release meets the demand for a Millbrook lifestyle

25 October 2012

New land release meets the demand for a Millbrook lifestyle

A shortage of land-only sites at Queenstown’s Millbrook Resort has prompted the latest release of new building sites at the five-star property.

Meeting demand from would-be homeowners, Millbrook is set to release land-only sites in a development area known as Stage 3A, following the sell-out of properties in its most recent release Mill Green.

With only two re-sale land sites currently available at the resort, interest in the new sites is extremely encouraging from those wanting ‘first pick’, according to Millbrook Property and Development Manager Ben O’Malley.

“Land-only sites are continuing to prove popular, so much so that we now have a shortage, prompting us to accelerate the release of this next stage,” he said.

“Our development continues to perform very well at a time when many land developments are experiencing slow growth.

“Conditions are still tough out there, however ongoing interest in both property and memberships is resulting in consistent sales activity.”

Mr O’Malley said Millbrook Realty Ltd had brokered $26m worth of new sales and re-sales in its last financial year to the end of September 2012, consistent with the previous year. In the same year 24 new families had joined as members of the Millbrook Country Club.

The latest development will incorporate 20 freehold sites, nine of which are about to be released as land-only (building) sites.

Located to the south of the 4th fairway of the new Coronet Nine golf course, these latest sites will range in size from 1303sqm to 2029sqm.

“It’s an absolutely beautiful piece of land, North-sloping, set over three elevated ridges running North to South and with low gullies in-between being kept as open green spaces,” said Mr O’Malley.

“All of the elements that make Millbrook so special – water, golf, established trees, stone walls and wide panoramic views -- feature in this development.

As with previous new releases at Millbrook, Country Club Members will be offered an exclusive ‘first opportunity to purchase’, expected to be in late November.

“It’s important to us to repay our Members’ loyalty by offering sites to them first,” said Mr O’Malley.

“Two new Members recently joined the Country Club to access the early bird opportunity, and some sites have more than one Member expressing strong interest in it.

“We’re confident that this initial release will yield some sales, however marketing of these sites will be low key until the subdivision works are completed and their full potential is revealed.”

Purchasers of the new sites will benefit from beautifully elevated sites in the idyllic setting, with earthworks, stone walls, landscaping and full services to the boundary all completed and included in the purchase price.

A new pond within the heart of the development will connect to Mill Stream via the ephemeral stream, which meanders through the Coronet Nine golf course.

“We’re very pleased with the continuing level of interest and momentum of sales at Millbrook,” said Mr O’Malley.

“Our strategy of not flooding the market, instead releasing smaller developments as demand requires, has been critical to the sustained success of the development.”

Mr O’Malley said Millbrook continued to see confidence from the marketplace, a tribute to the maturity and quality of what was on offer.

“Next year Millbrook will celebrate its 20th year and be able to look back on two decades of stable ownership and the continual delivery of high quality developments.”

Over the past four years, Millbrook has been developing successful neighbourhoods Coronet Square, McEntyre’s Tarn, Taramea Square and Mill Green, as well as a number of land-only sites, all clustered around the Coronet Nine golf course.

For the third year running, Millbrook has again been named as New Zealand and Australasia’s leading golf resort. Last week it reclaimed the title of Leading Golf Resort in Australasia at the 2012 World Travel Awards.

ENDS

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