By PHILIP CHANDLER
A newly-completed luxury apartment complex close to downtown Queenstown could set a trend for the future.
The five-unit Lakeside Villas, clad in striking cedar, sits right beside busy Frankton Road and adjoins Oaks Club Resort, to the east, and Spinnaker Bay Apartments to the west.
Four of the generous-size apartments — 219 square metres including garaging — are four-bedroom, four-bathroom over three levels.
The easternmost has three bedrooms and three bathrooms over two levels.
All are distinctive for their view shafts, schist walls, dramatic ceilings,
floor-to-ceiling glass and other luxury touches.
All pre-sold — the last, in May this year — for about $2.5 million a pop.
Invest Queenstown founder/director Simon Green, who managed the sales process, says the luxury management apartment sector’s very strong.
He sold four of the villas and local New Zealand Sotheby’s International Realty agent David Penrose sold the other.
Four of the buyers were Kiwis and the other’s a Kiwi/Aussie couple.
Green says at least four will be managed for visitor accommodation.
The developer, Gold Coast-based Macroland, has a number of developments in Australia and, according to Project360 founder/director Mark Neal — whose Queenstown company was Lakeside Villas’ development and project manager — is looking for another local site.
Macroland bought the 949sqm site and plans off the original Christchurch-based developer.
The project’s Christchurch architect, Rohan Collett, says: ‘‘I think the
popularity of them shows the quality of them.
‘‘Obviously the site’s amazing because of the views, but I think we offered the market something that’s possibly not that common in terms of their quality.’’
Both he and Neal praise the builder, Scott Construction, for coping with challenges including a difficult excavation and tricky site access.
‘‘That project wouldn’t have seen the light of day without those guys,’’ Neal says.
‘‘They brought in a lot of efficiencies in the way they did things — they kind of derisked the project a lot.’’
Scott Construction general manager Tony Dodds is also delighted with the result.
Including excavation and the Covid lockdown, the project took 18 months, he says.
Settlement for the five villas, currently being furnished, should happen later this month.