The first new subdivision in section-starved Arrowtown for about 15 years is under way.
Christchurch-based Suburban Estates is developing 23 sections off Manse Road, while four larger lots face consenting issues.
The approved Linksgate sections, opposite Butel Park, range from 601 to 1002 square metres.
Suburban Estates company manager Tracey Watson says the price list will be released in about two weeks but confirms the sections will all sell for $500,000-plus.
Marketing will start in about a month’s time, but Watson says there’ve already been registrations of interest since a sign went up last week.
Local-based Wilson Contractors recently started site works.
Progress over winter will determine when titles are issued, Watson says - “realistically, it’s probably going to be about February”.
Ray White Arrowtown boss Richard Newman says Linksgate is the town’s first new subdivision since Dennison Estate was developed opposite.
Arrowtown School about 15 years ago.
“It will go some way to alleviate the acute shortage of vacant land in Arrowtown.
“It’s not going to be enough and it’s still not going to be affordable for the first-home buyer but it is certainly going to help people who want to build a house in Arrowtown.”
The only other Arrowtown subdivision mooted in recent years was Arrow South.
That was proposed to be 200-plus sections beyond the town’s urban growth boundaries. However it was turned down after heated debate.
Newman: “[The developers] got some sections approved but it wasn’t viable for them to do it.”
Another Arrowtown subdivision of 20-plus lots, on McDonnell Road, is expected to be released in spring.