Media Release from Millbrook West

2 March 2011

Millbrook brings growing success to the region

The quality and size of new private homes being built at Queenstown's Millbrook Resort is underpinning a multi-million-dollar national and international building programme at the five-star resort.

Four private homes are currently under construction on new western sites at the resort, location of the new Coronet Nine golf course. Two additional 'high-end' homes of up to 930sqm are also in the pipeline, according to Millbrook Property and Development Manager Ben O'Malley.

"Having put so much effort over the past few years into creating a high quality environment at Millbrook West, we're absolutely thrilled to see these new homeowners taking it to a whole new level," he said.

"The fact that they feel comfortable enough to invest so significantly in the resort is a massive tribute to what Millbrook has achieved and continues to achieve for its Members and owners."

Property sales over the first five months of the resort's financial year totalled $12.5 million, of which $8.27m was for sales of new product. Residential construction currently underway is estimated to have a collective value of $13.5 million, said Mr O'Malley.

"This is a huge success story not only for Millbrook, but also for the wider region too, because of the significant amount of work it generates and the skills it helps retain within the district," he said.

"Millbrook is the biggest employer in the Arrowtown region, and works in partnership with several high-end local construction companies, architects and quality suppliers to maintain its distinct style of architecture and design.

"Accumulatively we're helping to keep the construction industry in work at a pretty challenging time for the region, given the economic climate."

Looking to the future, Mr O'Malley said Millbrook was concentrating on creating a varied menu of purchase options in order to appeal to the widest possible market to sustain Millbrook's "very pleasing" sales activity.

"We have re-sale options within the original eastern side of the resort starting from $600,000 and up to $3m-plus. In the new western development we have sections starting from $650,000, and two price tiers of 'Home and section' packages with a third to be released late this year.

"These include the five-home McEntyre's Tarn, and the 13-home Coronet Square developments currently under construction."

Of the resort's residential developments, six Coronet Square homes valued at around $2.5m each have sold, including its Master Builders 'Show Home of the Year' property.

A McEntyre's Tarn home has sold off the plans and will also be used as a show home for a period of time. These homes are in the range of $1.77 to $1.9m. At Mill Green, construction is close to completion of a new 'land-only' subdivision of nine lots, of which two have already sold off the plans.

Running parallel to the success of home and section sales, development of Millbrook's world-class golfing facilities has attracted increased numbers of golfers to the region. Thanks to the addition of the new Coronet Nine, Millbrook now offers a 27-hole configuration together with the Arrow Nine and Remarkables Nine.

"All 27-holes are in play and receiving great reviews. As a result we're seeing increased numbers of golfers generally and especially large tour groups who are coming and staying longer to play all the golf courses in the area," said Mr O'Malley.

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