Expressions of interest are being sought for the first 23 sections in a pre-eminently-positioned luxury enclave atop Queenstown Hill.
They’re part of the 96-section Karamata Peak subdivision. Karamata is te reo Māori for ‘pinnacle’ or ‘summit’ — which is on the last 10.1336-hectare block of Commonage land originally vested in the local council by the government in 1971.
The block sold early this year to Commonage Queenstown GP Ltd for $33million.
The first release comprises 20 sections sized between 535 and 865 square metres with the balance being 1010, 1025 and 2085sq m.
The price range is between $1,490,000 and $5.25m.
“This is an unmatched opportunity to secure a stake in one of the country’s most keenly-sought locations with outstanding views of Queenstown given its elevated position,” says local Colliers sales consultant Alastair Wood, who’s marketing the sections alongside colleagues Tim Thomas and Eoin Miles.
Due to the block’s medium-density zoning, allowing one dwelling per 250sq m, he’s expecting these sites will suit duplex townhouses.
The whole block’s being developed between now and mid-2028, including road and infrastructure development and streetscaping as well as secondary access off Kerry Dr.
Wood says there’ll be further releases once the first one sells out.
Even though the first lots only went to market last Friday, “there has been pretty strong interest already”, he notes.