Millbrook posts near record property sales month

Media Release from Millbrook
7 July 2011

Millbrook posts near record property sales month

Creating a varied menu of property buying options at Queenstown’s five-star Millbrook Resort has paid off with a near record sales month for June 2011.

Millbrook’s new McEntyre’s Tarn show home – a single-level cottage-style home harking back to the simple stone crofts of early Central Otago settlers -- opened over Easter and has been the catalyst for three contracts on homes in this attractive neighbourhood.

With the show home already sold off the plans, just one home remains in the five-home hamlet.

Other confirmed sales for the month include two sections and an existing home, adding up to a total of just under $10m. Year-to-date sales at Millbrook, nine months into its financial year, now stand at $10.062m in re-sales and $11.210 in new sales, a total of $21.272m.

“That adds up to an average sale of $1.251m,” said Millbrook Property and Development Manager Ben O’Malley.

“Putting the June sales into context, this is the highest monthly sales figure since August 2007 close to the height of the property and investment boom.

“Millbrook’s five confirmed sales in June would equate to approximately 25% of the total monthly sales value figures in Queenstown (based off May's statistics) with our two salespeople making up only around 17% of the licensed agents working in the region.

“It’s a fantastic result in a relatively flat market which demonstrates that Millbrook continues to punch considerably above its weight with regards to local sales averages.

“We boosted our sales team to two in April when Queenstown property expert Julia Blanchard joined the hugely experienced Austin Bragg in the Millbrook Realty Ltd Property and Membership Sales team.

“While sales have been steady for us, we’re definitely starting to see some signs of a pick-up. High quality developments in the region are continuing to sell and Millbrook’s maturity, along with its reputation for quality, has resulted in an ‘on-going flight to quality’ by discerning buyers.

“Millbrook’s show homes at McEntyre’s Tarn and Coronet Square have proven to be hugely popular and a fundamental tool in the sale of many of our properties.

“Land-only sales at Mill Green are also selling well, with five out of nine available already sold, four of them in the last five months. Six of the 13 Coronet Square homes available have also sold.”

Mr O’Malley said McEntyre’s Tarn buyers in June had been two existing Millbrook members and a new Auckland-based member, all Kiwis, who had just “fallen in love” with the properties once they’d been through the show home.

“Those homes definitely have a more homely, country style about them, with comfortable interior furnishings, timber beams, a stone fireplace, multiple living spaces and sunny and peaceful outdoor living spaces,” he said.

Other buyers have come from Dunedin, Queenstown and Tahiti.

Mr O’Malley said two new high-end private homes had also recently been completed at Millbrook, more were under construction and others were still in the pipeline.

“We’ve put a lot of time and effort into creating an extremely high-quality environment at Millbrook, so it’s fantastic to see that those owners have picked up where we left off and are stamping their own mark on the resort with simply beautiful homes.”

ENDS

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