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Bendemeer growth accelerates

Bendemeer growth accelerates with strong sales and interest from top architects

Queenstown’s premier rural residential lifestyle development, Bendemeer, is experiencing rapid growth with several building projects underway and only eight land lots left on the market.

Twelve months ago, Bendemeer had one complete home and two full-time residents. Now, Bendemeer has six complete homes, three under construction and another four in the planning and design stage.

Bendemeer has seen six land sales so far for 2015, ranging in value from $625,000 to $1.15 million, along with the recent sale of the Bendemeer Woolshed, a commercial property at the entrance to the development consented for cafe/gallery use. Rapid sales over the past year mean only eight sites currently remain available out of the original 42 lots, which sit within 130 hectares of rolling pastureland. Once these are sold, there is no more land for development within the Bendemeer Special Zone.

Bendemeer has now become one of the Wakatipu region’s most sought-after rural lifestyle real estate areas and is attracting some of New Zealand’s leading architects to design world-class homes for the new landowners.

David Ponting of Auckland-based firm Ponting Fitzgerald, Francis Whitaker from Dunedin’s Mason & Wales, Blair Paterson from Christchurch’s CoLab Architecture, Queenstown firms Dravitzki Brown and Warren & Mahoney, plus Jessica Barter from Auckland’s Bureaux Architects have all been involved in individual building projects.

“Each project has its own individual style and flair, complementing the uniqueness of the surroundings and reflecting the attributes of the site itself – whether it’s an expansive alpine home or a contemporary home sitting within a rocky outcrop,” Mount Farm Ventures Ltd project manager Sarah Cairns says.

Mount Farm Ventures, which purchased the majority of the land sites within Bendemeer in 2011, recreated a vision for Bendemeer that has resulted in the development’s rejuvenation and has continued to support and encourage growth in its property values and sales volume. The landowners’ association, Bendemeer Management Limited (BML), recently engaged a team of local architectural and landscape design experts to form the Bendemeer Design Committee to help preserve the area’s beauty and outstanding natural landscape. The committee facilitates the design process for landowners so Bendemeer’s design philosophy is protected and enhanced.

“The result is that Bendemeer has become an area where outstanding homes are built in amongst prime real estate offering the most spectacular 360 degree views of the Wakatipu Basin. The flexibility of the design programme encourages contemporary and individual flair and means each Bendemeer home complements the surroundings without limiting the owners’ personal style and creativity,” Cairns adds.

“There will never be a better time to become one of the few to own a property in this unique environment. Not many people have the opportunity to build a house that encompasses their lifestyle, their dreams and the land they want to connect to – and Bendemeer offers this option.”

Queenstown-based rural land specialist Terry Spice, of Luxury Real Estate New Zealand, says the rural lifestyle land market has experienced considerable growth this year.

“The 2015 calendar year has been very positive for rural land and high-end property in the Wakatipu. Reviewing the statistics available, there have been 15 rural land sales between $600,000-$2million. Residential and rural homes have also seen a positive increase with 16 sales over $2m within the same period,” Spice says.

“Interestingly, there were just six residential and rural home sales during the 2014 calendar year over $3m – yet the first financial quarter of 2015 saw that same number sell. The brands and lifestyle opportunities of Queenstown and Arrowtown are starting to see very good momentum,” he adds.

ENDS

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