A local developer’s soon to break ground on eight luxury townhouses off Hallenstein St, near the corner of Sydney St.
That’ll follow the demolition of two back-to-back houses dating back to about the 1960s.
In less than eight weeks, two townhouses have been sold to Australian parties, for $1.66million a pop, and another two, priced at $1.56m, have gone under contract.
Of the remaining four, two are also priced at $1.56m and the others are $1.61m.
Designed by Auckland-based Four Walls Architecture Ltd to take advantage of classic Queenstown views, Hallenstein Street Townhouses, as the development’s called, comprises two rows of two-level townhouses.
With floor areas ranging from 131 square metres, each freehold townhouse includes a single-car garage, two bedrooms, one bathroom and a laundry on the ground floor and kitchen/living/dining area on the upper floor along with a bedroom and ensuite that’s also accessible from the living area.
Luxury fittings include stone benchtops, tiled bathrooms and premium appliances, while there’s underfloor heating in the bathrooms and heatpumps in the living areas and all the bedrooms.
There’s an outdoor deck on the upper floor and a landscaped and paved courtyard on the ground floor.
The resource consent allows for 365 days-a-year visitor accommodation.
As a result, local Colliers agent Richie Heap, who’s marketing the development with colleague Poppy Jefferies, says they appeal to Auckland and Australian buyers wanting "a lock-and-leave, holiday home-type property".
"It just gives a buyer flexibility on what they want to do — they can come and use it for friends and family, and make a good income, due to the location, the rest of the time."
According to a rental appraisal, each townhouse could be let out short-term for about $600 a night, or between $950 and $1050 a week for long-term rental.
Heap notes there’s not been a lot of similar product built in central Queenstown for some time. "Obviously, after Covid there’s been a few spanners in the works with people wanting to develop and hold-ups with materials."
He adds the developer is already very experienced in building local townhouses.
"I just like the location of these, and the build quality and design is very good."
Completion is expected in the second quarter of next year.
