Despite only hitting the market late last year, sales in the first stage of central Queenstown’s $2 billion-plus Lakeview Te Taumata precinct have almost reached $100 million.

Buoyed by what they called ‘‘incredibly strong’’ buyer demand, joint venture partners ASX-listed Centuria Capital and Melbourne-based 94 Feet are confirming construction of the master-planned precinct — on the former council campground at the end of Man St — will start late this year.

Officially launched last weekend, the first offering, called the ‘Roto Collection’, comprises 224 apartments spread over three buildings ranging from nine to 12 levels.

Sales achieved so far range from $750,000 for studio apartments to $9.8m for a 256 square metre, three-bedroom apartment with 44sqm terrace offering ‘‘sweeping views’’ over Lake Whakatipu.

Buyers are predominantly Kiwis and Aussies with some also from the US.

Roto residences include studio and one-bedroom apartments and two- and three-bedders ranging from 77 to 149sqm with terraces up to
22sqm overlooking the lake.

There are also several sub-penthouses, priced from $8m to $11m, featuring four- and five-bedroom layouts ranging from 221sqm to 392sqm.

They’re topped by a 475sqm penthouse, with a 37sqm balcony, priced at $25.5m.

Huge demand: Pre-sales at Lakeview Te Taumata are almost at $100m already

It’s available as either a five-bedder with 5.5 bathrooms or a four-bedder with larger bedrooms and 4.5 bathrooms complemented by a wine cellar, gym/wellness centre and the option of a sauna.

Local-based New Zealand Sotheby’s International Realty CEO Mark Harris says even the penthouse is garnering significant interest from buyers.

‘‘We have been fielding inquiries from multiple high-net-worth buyers who recognise the transformational nature of this development and its
positioning as a world-class residential resort in the heart of Queenstown.’’

Harris says he’s not surprised at the level of interest in such a short time.

‘‘This project is incredibly unique, has been very carefully planned and represents one of the most unique residential offerings ever seen in NZ.

‘‘We are talking a $2b-plus precinct in one of the world’s most well-known ski and lifestyle destinations.’’

Besides luxury residences, Lakeview — being delivered in multiple stages over the next decade — will include four hotels, including a six-star offering and a lifestyle and wellness hotel, ground-floor retail, restaurants, bars, an art gallery, public plaza and a hot-pools attraction.

More than half of the 3.3-hectare site’s being dedicated to open space.

[email protected]

- Advertisement -