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Five-star development demonstrates five-star success

Media release from Millbrook Resort
29 August 2012

Five-star Queenstown development demonstrates five-star success

Land and property sales at Queenstown’s five-star Millbrook Resort are on the up and up as the resort launches into spring.

With an estimated $30m of home construction completed and another $25m underway or starting within the next 12 months, the ink has just dried on the first confirmed sale off the plans for a home in Millbrook’s latest neighbourhood, Taramea Square.

The $2 million-plus sale was confirmed recently after the 12-home neighbourhood was launched earlier this year.

Taramea Square offers four unique styles of home within the exclusive cluster, combining the character of a Central Otago cottage with all the space and comfort of a modern dwelling.

“We’re very pleased already with the level of interest and the momentum of Taramea Square,” said Millbrook Property and Development Manager Ben O’Malley.

“As well as the property that’s just sold, there’s good interest in other homes at Taramea, and construction is well underway on the first four homes including two fully-furnished show homes, so people can get a good idea of the range of styles and properties on offer.”

Mr O’Malley said he was “extremely pleased” with the resort’s July year-to-date sales figures which have reached $23 million.

“We’ve been saying it for a number of years, but we continue to see confidence from investors, a tribute to the maturity and quality of what we’re offering,” he said.

The latest properties on offer at the idyllic resort, Taramea Square 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.

Over the past four years, Millbrook has developed successful neighbourhoods Coronet Square, McEntyre’s Tarn and Mill Green, all clustered around the new Coronet Nine golf course.

Mr O’Malley said Millbrook’s continued and sustained success could be attributed to a commitment to sustainable and steady growth.

“We’ve always held a long term vision, with stringent design controls that ensure the very highest level of quality,” he said.

“Part of our strategy is to offer, at any one time, a range of homes and sites of varying sizes, features and price points to appeal to a wide market.

“Taramea Square continues with that philosophy of offering a varying range of homes which is why it is proving to be successful,” he said.

Millbrook Country Club members were given first opportunity to buy off the plans as many have continued to invest and upgrade their properties at the resort.

The first home sold in Taramea Square has gone to a member, and Mr O’Malley said the sale was underpinned by a strong level of sales and interest in properties from buyers around New Zealand and overseas.

“We continue to see existing Millbrook land owners re-investing here as they choose to upgrade their holding. It gives us great confidence that we have created a desirable lifestyle environment,” he said.

Millbrook works to create an architectural style perfectly tuned to the Arrowtown climate. The Taramea Square homes reflect the area’s heritage past, whilst providing the comfort of a modern dwelling.

Mr O’Malley said other private homes being built around the resort ranged in size from 310sqm to 880sqm and included some of the most valuable houses in the region.

“Our design review committee has been kept very busy overseeing plans for these magnificent homes but they’re delighted to report that the levels of quality and innovation continue to rise.

“The fact that people are happy to work within the parameters set by the panel shows that the model has been extremely successful.”

Sales continue at healthy rates for the previously released neighbourhoods at Millbrook -- seven out of 13 homes in Coronet Square have now sold, including two show homes.

“We can see from recent sales figures for the region that Millbrook sales made up almost 9% of total sales values in the Queenstown and Arrowtown area in the 10 months year to date,” said Mr O’Malley.

A McEntyre’s Tarn home recently won a gold award in the Southern Region show home section of the Master Builder’s awards, cementing the quality of the development.

Land-only sites have also proved popular, with only four currently available including one site at the recently launched Mill Green.

“Bare land sites are in short supply, with 16 of the original releases either built or starting to be built this spring and summer. That level of demand means that the next release is not far away,” said Mr O’Malley.

“Purchasers want a piece of the lifestyle appeal that Millbrook offers, with architecturally-designed homes amongst the stunning landscape in this Central Otago world-class destination.”

Mr O’Malley said Millbrook’s ongoing activity was also good for construction in the region.

“Our success is also success for the wider region, because we’ve kept many contracting firms busy and this helps retain skills within the district.”


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