This article is from the Australian Property Journal archive
A SINGLE buyer has splashed out over $33 million for the penthouse and sub-penthouse apartments at Melbourne-based developer 94 Feet’s ultra-luxe Lakeview Te Taumata project in Queenstown, in a record-breaking sale for the New Zealand lifestyle hotspot.
The transaction sees the penthouse on level 12 alongside complementary sub-penthouse apartments on level 11 purchased by buyer, who resides between North America and Queenstown, through New Zealand Sotheby’s International Realty (NZSIR).
“In a region where price tags for some of the most opulent luxury homes reach the $20 million to $25 million mark, this sale sets a new benchmark for the apartment market in Queenstown,” said Myles Green, projects and development manager at NZSIR.
“While buyers within this price range have traditionally gone for residences set within lifestyle acreage, there is a clear demand for the unmatched potential of amenity and location that Lakeview Te Taumata offers.”
The five-bedroom, 5.5-bathroom penthouse alone offers panoramic mountain, city and lake views, with 475 sqm of living space including a 37 sqm balcony. It features a private wine cellar, gym and wellness centre, and the option of a sauna.
Selling agent Dave Fea said the purchaser had been waiting for an opportunity like this for some time.
“Of particular appeal was the exceptional quality of architecture, the central location and world-class views the project provides, along with the vast array of amenities on hand.”
Nearly $100 million in sales have been recorded in the first stage at the Lakeview Te Taumata development, part of a $2 billion-plus master-planned precinct being undertaken in a joint venture between ASX-listed Centuria Capital and 94 Feet, to be delivered in multiple stages over the next decade.
When completed, it will comprise a range of high-end residence, four hotels, including a premier six-star offering and a lifestyle and wellness hotel, as well as ground-floor retail, restaurants, bars, art gallery, public plaza and a hot-pools attraction.
Construction for the Roto Collection is set to start late 2024.
