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A Gibbston Valley luxury development sold its first launch of 15 properties, worth $ 25 million, on the first day of listing.
The development attracted high-profile buyers like former Prime Minister John Key and cricket coach Brendon McCullum.
A second release of 20 two-, three- and four-bedroom properties is likely to disappear by Christmas, said Harcourts agent and former Congressman Hamish Walker.
“We can hardly keep up with the level of research that is coming in, with buyers drawn in by the scale and location of what is being offered, and prices that meet the market when overall demand is at its highest.”
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The development will include access to a nine-hole golf course, a country club and spa, wellness center, restaurant, gym, and a village with artisan shops, cafeteria and garden center.
Buyers could live or rent houses through the complex when they were not there.
Located near Queenstown, the homes range in price from $ 1.25 million to $ 4.5 million plus GST.
Prices had risen since the first release and would rise again once the next 20 homes are gone, Walker said.
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A planned luxury development in the Gibbston Valley is attracting high-profile buyers, including former Prime Minister John Key.
Key said he bought it because it was good value for money.
“Gibbston Valley Winery has a very rich history and it’s about experiencing the best that Central Otago has to offer in a safe and relaxing environment,” he said.
McCullum said he was shopping because he loved Queenstown, golf, wine and the mountains.
Walker said the $ 750 million development has also attracted the interest of other well-known athletes.
The buyers came mostly from Auckland, while other interests came from kiwis living in the United States and Australia.
Harcourts Queenstown Managing Director Warwick Osborne said the company was delighted to be working with the owners on a development of this scale and quality.
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Greg Hunt, Gibbston Valley CEO of Central Otago Winery, stands in front of a newly constructed administration building in 2016. A much larger resort and golf course is now planned for Gibbston Valley Station.
“It is the first type of resort of this nature seen in New Zealand in many years,” he said.
The development will be built at Gibbston Valley Station, co-owned by Gibston Valley Winery, Lodge and Spa CEO Greg Hunt, and US-based Phil Griffiths.
Hunt said the resort was the completion of a long-term development plan, with zoning granted 12 months ago for the golf course and resort. Construction was anticipated to begin in 2022.
The first stage of development will be a collection of 132 houses called The Vines, directly across the street from Gibbston Valley Winery. A retirement cabin is also planned for another part of the station, containing 20 units.
