High demand: An artist's impression shows what Ngai Tahu Property's Te Pa Tahuna development, of which the first stage is almost sold out, will look like on completion


The first KiwiBuild apartments at Ngai Tahu Property’s (NTP) Te Pa Tahuna Queenstown development have all sold.

There were 10 KiwiBuild homes offered to eligible buyers in stage one of the masterplanned residential development, on Wakatipu High School’s former Gorge Road site, all a mix of one- and two-bedders, priced at up to $650,000.

In all, there were 27 apartments made available in the first stage, the balance comprising market apartments and live-work units.

NTP general manager Blair Forgie says mainstream residential apartments have also sold out, and there are only three live-work units still available for purchase.

Given the challenges of the current housing market in Queenstown, enabling home-ownership opportunities for first-home buyers is a key part of the development, he says.

‘‘These apartments have been carefully designed, with an emphasis on practical living spaces and efficient heating and ventilation systems.

‘‘Te Pa Tahuna will be at the heart of the urban renewal planned for Gorge Rd, and Ngai Tahu Property is proud to be part of that.’’

Ray White real estate agent Cameron Reed says working with KiwiBuild buyers and helping them get on the property ladder’s been ‘‘extremely rewarding’’.

‘‘I’ve really enjoyed helping people buy their first home close to central Queens town.

‘‘Seeing the excitement and joy that comes with a first-home purchase is always very worthwhile.’’

Forgie says an announcement about the release date for the next homes for sale, including more KiwiBuild apartments, is expected later this year.

On completion, there’ll be more than 300 apartments in the development, including 105 KiwiBuild homes.