Queenstown: Escape to the hills

Queenstown is hard to beat in terms of lifestyle and investment opportunities. By VICKI HOLDER.

For a lifestyle property that gives you both holidays and a lucrative investment option, the Heritage Queenstown Villas are just the thing. Soon to be built next door to the Heritage Hotel in Queenstown, they offer the flexibility of unlimited use. While they are available for full-time occupation, when you or your family and friends are not staying there, you can lease your freehold villa back to the hotel and enjoy the returns. The property will be managed on your behalf.

Capital growth looks healthy with increasing direct international flights, a huge demand for lifestyle opportunities and the escalating popularity of Queenstown among both domestic and international tourists. The value of real estate in Queenstown has been rising steadily since its discovery by the international market almost a decade ago.

Stage one of the complex has already sold out, and when the second stage is completed in November there will be 36 luxury villas on the site. Designed by Auckland architectural firm Paterson Cullen Irwin, the villas have been developed by Citation Property Group, a company with a proven track record for excellence. Group development manager Jeff Shearer says the existing villas have exceeded sales expectations and the new ones will consolidate the strong interest in the luxury market in Queenstown.

Many Aucklanders have already purchased. Warwick Osborne, of Harcourts, Queenstown, says they like the idea of getting away from the hustle and bustle of the city. "The skifields are a quick flight away. And a lot of have purchased due to their association with the Heritage hotels. There are seven other Heritage Group properties throughout New Zealand and they are well-known for driving good occupancy rates."

Set high above a landscape reserve, the villas boast never-to-be-built-out views over Lake Whakatipu with a backdrop of the Remarkables mountain range. Rich in character and style, they have been designed to capture the ambience of the environment with timeless but contemporary alpine-style architecture.

"It's very much a villa," says Osborne, "featuring a pitched roof. Natural earthy colours blend with the surrounding landscape, reflecting particularly the schist stone." The interiors, too, have an alpine lodge flavour, with a full stone gas fireplace in the lounge.

All the villas offer three bedrooms and two bathrooms with a large open-plan living area incorporating sitting and dining areas and kitchens downstairs. Beautiful materials include Australian jarrah for the staircases, kitchen cabinetry and the tongue-and-groove flooring. In contrast to the warm red of the jarrah, the kitchen benchtops are sleek and elegant in absolute black granite.

Both levels open to the outdoors. The master bedroom unfolds to a balcony, so you can lie in bed or soak in the bath in the en suite enjoying views of the Remarkables. The living area opens through bifolds to a tiled deck in front and from the kitchen to a private courtyard at the rear.

Each villa comes with a carefully integrated furniture package. This includes everything right down to the teaspoons. "People are buying a home away from home," says Osborne. "The package incorporates the dishwasher, fridge-freezer, microwave, all dining and lounge furniture, a surround-sound music system in the lounge and the DVD."

The villas are built with solid pre-cast concrete walls and floors to ensure optimum sound insulation and minimum heat loss. Underfloor heating in the bathrooms and wall heaters on both floors make them cosy. Double glazing ensures the cold stays out and external noises are muted. All interiors are finished in high specification plaster and hard-wearing acrylic paint. The carpets are 100 percent New Zealand wool and the tiles are porcelain.

Once the villas are completed, the hotel will add to the existing facilities with tennis courts, an indoor-outdoor swimming pool, a spa pool, gym and petanque court, giving all the amenities of a lifestyle resort.

The location and setting engender a real sense of escape, but if you want to head into town, it takes about eight to 10 minutes to take a pleasant stroll through the reserve and along the foreshore.

Not just a chance to fall in love with Queenstown's magical scenery and first-class recreational facilities, the Heritage Villas are an irresistible investment opportunity.

Vital Statistics

ADDRESS: Opposite Heritage Hotel, Queenstown.

FEATURES: 16 two-storey freehold villas; three bedrooms; two bathrooms, including master en suite; large open-plan living areas; fully furnished, including entertainment system with surround sound; double glazing; copper spouting and downpipes; single garaging; spectacular lake and mountain views.

SIZE: Foor area 136sq m, plus garage, courtyard and balconies.

PRICE: $925,000.

AGENTS: Warwick & Marie Osborne, Harcourts Queenstown Real Estate. Ph 0800 845 527 (NZ only); 0274 469 835 mob; www.heritagevilla.co.nz