A local developer is about to start selling Queenstown apartments and sections with stunning Shotover River delta views.
Aedifice Queenstown Ltd, owned by local Tim Medland and two New Zealand resident French partners, is developing La Residence du Parc on a 1.18 hectare site at Arthurs Point.
South of Arthurs Point Road, the site’s bordered by Nugget Point hotel and the accessway to Onsen Hot Pools.
The development features 48 apartments, split between two four-level buildings, and 10 sections, including five on the ridge-line and three at the bottom of the site, right above the Shotover River.
The company’s already developed two local apartment complexes – 22 Hallenstein, in central Queenstown, and La Residence du Lac, off Frankton Rd.
It bought its latest plot off Nugget Point’s owners last year in a deal brokered by Invest Queenstown co-owner Simon Green.
It’s understood the land fetched about $3 million.
Medland says Aedifice only picks premier locations.
“My first job in Queenstown was at Nugget Point as a tennis coach, and I knew this site was extremely sunny in the winter and a beautiful, tranquil environment in the summer.”
Medland believes that, added to its proximity to Coronet Peak skifield and central Queenstown, Arthurs Point’s attraction has grown further in recent years due to the traffic congestion around Frankton.
Designed by Queenstown’s Koia Architects, the apartment complex will cost about $14m to build, with completion due next July.
Apartments – mostly two-bedroom, two-bathroom – range from $500,000 to $799,000, plus GST, if any.
They’re highly-specced and fully-furnished, Medland says, “and incredibly eco-efficient in terms of their electricity consumption, especially”.
Due to the area’s rural visitor zoning, owners will be able to let out their units for tourist accommodation, such as Airbnb, or rent them out long-term, or live in them.
Section prices range from $450,000 to $495,000, GST inclusive.
Medland says design controls will be high-quality but minimal in scope.
He expects buyers will want to install large picture windows to make the most of the views.
There’ll also be a security coded gate at the entry to the riverside sections.
Titles are due about late October.
Invest Queenstown has the master agency for La Residence du Parc though, as a licensed realtor, Medland will also handle sales.
“We already have pre-registration interest in some of the sections and apartments,” he says.
Infrastructure and ground works are underway.
Queenstown Tennis Club members removed trees as a club fundraiser.