Millbrook houses popular

Coronet Square properties at Millbrook Resort, which are proving attractive for Auckland and...
Coronet Square properties at Millbrook Resort, which are proving attractive for Auckland and Australian buyers. Photo by Tracey Roxburgh.
Residential developments have resulted in sales at Queenstown's five-star Millbrook Resort totalling $7.6 million in the first two months of its financial year.

After the release and sale of six properties within the 13-home Coronet Square development, Millbrook also released its McEntyre's Tarn development in September.

The exclusive five-home hamlet of single-level residences had barely been released to the market when the cottage-style property earmarked as its show home sold from the plans.

Millbrook Property and Development manager Ben O'Malley said most buyers were from Auckland and Australia's East Coast.

"New Zealand ... has a lifestyle appeal that is growing significantly on the international property market," he said.

The "superb" homes provided by Millbrook were designed by Mason & Wales.

This company had won many awards, he said.

The homes were within 20 minutes' drive of a destination that prospered year-round.

East Coast Australia was in particular a growth area for Millbrook for many reasons, he said.

"It now enjoys cheap airfares with more direct and frequent flights ... 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 [global financial crisis] cold that everyone else did, so they're more prepared to spend in comparison to other overseas investors right now.

"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."

Mr O'Malley said both the first and second show homes at Coronet Square had sold and Millbrook was working on another show home which should open early next year.

The McEntyre's Tarn show home would still be built and furnished, but the remaining four cottages would be built to a shell stage, meaning buyers could choose their own interior designs and finishing.

Development of land packages at the nine-lot Mill Green subdivision was also well under way, with one lot already sold from the plans, he said.

 

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