Orchard Park, It Just Makes Sense
Generally speaking, building in Wanaka just makes sense, and building in the now titled subdivision of Orchard Park makes even more sense.
With generous sections and minimal covenants, it’s options galore in terms of different ways to generate value.
Developer Matt Laming of Quartz Property Development says, “Buyers are able to take advantage of the sympathetic covenants and ample space, offering the potential for a home & income build. Whether it be a residential unit or flat alongside the main house, buyers have options.”
Locals are welcoming Orchard Park with open arms and to date 80% of the development’s buyers live locally in Wanaka, with the remaining 20% from out of town. Of these buyers 75% are purchasing a section to build and live in themselves, creating the basis of a growing community. The other 25% are property investors looking to achieve long-term capital gains.
“The real reason we’re seeing so much local interest is because of the non-restrictive covenants offering flexibility, while still maintaining a level of consistency.”
There has also been a recent increase in online enquiry from Queenstown and East Coast Australian land seekers.
“Those investing from out of town have done their research, and in a highly competitive landscape they see the numbers stack up in Orchard Park. Holiday home owners would be able to ensure continuity by renting their property, either long-term or short-term, while they aren’t using it,” Matt says.
What’s drawing nearby Queenstown buyers to the development is the section sizes, ranging from 620m2 – 900m2, which are now difficult to find in Queenstown due to rarity and high prices. They’re also drawn by the math, purchasing and building on a section in Orchard Park seems to be both more affordable and profitable than buying an established home in Queenstown of the same quality and on a similar section size.
Selling agent Chris Wright also sees the value in Orchard Park, having invested in a section and has recently begun laying the foundations for his family home.
“Being just 60 minutes from Queenstown International Airport, 30 minutes from Mt Aspiring National Park, and a short bike ride to Wanaka’s waterfront and amenities, it’s an ideal location.”
“We’re excited to be part of such a great community.”
Titles have been issued for the first stage, and now stage two is on offer for sale.
Hear more from Chris about why they chose Orchard Park to be their home.
If you’d like to know more about your options at Orchard Park, or want to see for yourself don’t hesitate to get in touch with Chris.
