Arthurs Point north of the Edith Cavell Bridge has become one of Queenstown’s most successful subdivisions over the past decade.
Like Quail Rise, near Frankton, it’s provided about 200 residential sections, mostly for family living.
Unlike Quail Rise, it’s been forged by multiple developers, which has led to varying standards of landscaping and street design.
Ray White Frankton agent Wayne Cafe – who sold the original Aurum Terrace subdivision and is still selling the more recent Morning Star one – says Arthurs Point was wisely identified as a future residential area.
“It was the nearest big slab of flat land within five minutes of Queenstown, and it took everybody off Frankton Road.
“You get great rural views, sunshine and shelter.”
Cafe recalls selling 30 lots at Aurum Terrace, developed by Christchurch company Everbright Realty, for an average of $170,000.
Soon after, in 2002, Queens-towner Arthur Anderson marketed his 45-lot Atley Downs subdivision, which had slightly larger sections and landscaping in tune with the goldrush heritage.
Initial prices ranged from $147,000 to $200,000.
In 2005, CDL Land New Zealand released the first stage of Morning Star on the other side of Arthurs Point Rd.
Twenty-three lots, in a heavily landscaped area, sold for an average $215,000.
Another 20 sections – average price $240,000 – have been offered in stage two, with 12 still for sale from $220,000.
Meantime, another developer carved the Redfern subdivision out of the former hole near the north end of Atley Rd.
Twenty-six lots sold for an average $180,000.
Smaller subdivisions have been created by the likes of locals Ken Gousmett and Maurice Murphy.
Classic Builders has been offering home and land packages.
Queenstowner Chris Streat’s family trust has also created the 11-lot Evening Star subdivision.
Streat says the success of Aurum Terrace and Atley Downs paved the way for later subdivisions.
“Prices have held well through the recession.”
Lot values are down only 12 per cent off their peak, he notes.
Streat says another attraction of Arthurs Point is the proximity of Department of Conservation tracks and the scenic Shotover River.
“People live here a long time because it’s a truly great place to live.”