A $90 million apartment, penthouse and villa development – called Lakecrest – will compete for the title of one of New Zealand's most prestigious as the strong property market in Queenstown continues to thrive.
Simon Taylor, a director and senior development manager at Safari Group, says Lakecrest will be a singular boutique development of 25 apartments and six villas, ranging in price from $1.7m to $7m – although the penthouse has already been snapped up.
"We are hearing anecdotally, supported by regional growth data, that Kiwis are moving to Queenstown," he says. "Some are returning from overseas, some are retiring and just want to get out of the big city and there are overseas buyers who have heard all about Queenstown's beauty and want to make that lifestyle switch."
Lakecrest offers that lifestyle with its location on the crest of Hallenstein and York Streets, in central Queenstown, with a panoramic view over Lake Wakatipu and the Remarkables mountain range.
Taylor says he has built "thousands" of apartments in his property career – but says Lakecrest will have unparalleled views, charm and accessibility to Queenstown: "It's up the hill, just a short walk to town and those views are to die for."
Queenstown is already nationally and internationally renowned, he says, but the town has "a huge amount" of growth potential yet.
"I'd equate it with Whistler [in Canada]," he says. "We are seeing many winter ski resorts around the world add more strings to their bow so they are not just winter destinations. Whistler has added to its ski resort reputation by becoming a mountain biking mecca in summer.
"I think Queenstown has the potential to do the same thing; it's really exciting."
The project is going through resource consent at present, with construction expected to start in the third quarter of this year and completion expected in late 2023.
"The Lakecrest Apartments are designed to create a sense of retreat and comfort within Queenstown. The apartment layouts have been curated to be efficient and user-friendly, with a thoughtful focus on the details within both shared and personal spaces.
"The villas are designed with a range of families in mind, which creates a well-functioning sanctuary for frequent visitors to Queenstown. The interior spaces are generous, with large living and shared spaces and very well-appointed kitchens and bathrooms. '' says Taylor.
"You need to build something special in a location like this," he says. "Every time I fly back into Queenstown, I fall back in love with it again – you hear a lot of people saying that."
The development will have four separate entrances, meaning each apartment has an almost private elevator and staircase: "They will be shared only by you and your immediate neighbour – who you will get to know well anyway – for extra privacy and easy access.
"Each level will be different – the ground floor will have street access and more of a townhouse aspect; Level 1 will be three-bedroom apartments with mountain views and level two will be two bedrooms with lake views."
Safari Group began as a partnership between builder mates Robert Neil and Stephen Taylor in 1996, growing from a small firm into one of New Zealand's leading property development and construction companies, with nearly 25 years of experience.
Safari controls everything from design and construction through to marketing and property management. That control of almost every single aspect of designing, developing and building their complexes means they have an excellent record of quality projects finished on time.
They have constructed over 2000 units throughout the country – including the mixed hotel/apartment complex LQ (La Quinta) Queenstown which opened on time in December 2020.
It received considerable acclaim, with special praise reserved for the high quality of the interior design and the sheer number of conveniences provided for guests staying in the 91 guest rooms. Each has air-conditioning, double glazing, king-size bed and a 40-inch flat-screen television – as well as spectacular and majestic mountain range surroundings.
The majority of the group's 52 apartments in Auckland's Newmarket Residences were purchased at pre-sale stage. That project and another of their latest – Central Park in Ellerslie – include a dual key option, two apartments on one title, allowing owners to live in one and rent out the other, rent out both or use the space as a two-bedroom home.
"You've got to do your due diligence," advises Taylor. "Look at the developer's history, their values and how they operate. Our track record speaks for itself; we've been around for 25 years and we have never ever gone back to a purchaser and said: 'By the way, our costs have gone up and we need an extra dollar, let alone $50,000 or $100,000.'
"We always deliver and we deliver on time. We commit to a start date and construction starts on that day, no matter how many apartments remain to be sold. We are confident in our product and the value it represents, so starting on the back of our own equity gives our purchasers further confidence their building will get built and their valuable investment delivered on time."
Even the current squeeze on building supplies shouldn't be a problem, he says, as their suppliers have worked with them "for decades building great relationships and we tend to get priority over, say, someone building three townhouses."
For more information: https://lakecrestqueenstown.co.nz/