Aussie Buyers Dive into $2+ Billion Lakeview Te Taumata Project at Queenstown

The Lakeview Te Taumata precinct in Queenstown, New Zealand, has seen strong interest and sales in its first stage, totaling almost $NZ100 million. The joint venture between ASX-listed Centuria Capital and Melbourne-based 94 Feet is transforming Queenstown into a $2+ billion master planned precinct. Over 70% of buyers in the project are Australian, highlighting the country's strong affinity with Queenstown.

The Lakeview Te Taumata precinct aims to become the 'Aspen of the southern hemisphere' and has been officially launched with the release of the first two stages comprising 224 apartments. The first stage, known as the Roto Collection, comprises three buildings ranging from nine to 12 levels, with construction set to begin in late 2024.

Sales for the first two stages, comprising 224 apartments, have totaled almost $NZ100 million, with over 70% of buyers being Australian. The Roto Residences offer a mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments, along with sub-penthouses and a sprawling penthouse. The penthouse, priced at NZ$25.5 million, has garnered significant interest from high-net-worth buyers.

Lakeview Te Taumata will be delivered in multiple stages over the next decade, featuring luxurious residences, hotels, retail, restaurants, bars, an art gallery, public plaza, and a hot-pools attraction. The precinct is designed as a complementary extension of the existing Queenstown town centre, aiming to enhance the Queenstown experience for visitors and benefit the local community.

The strong sales and interest in the Lakeview Te Taumata project mark a major milestone, and construction is expected to commence late this year. The Lakeview site's sale and development plans represent almost 20 years of planning, public consultation, and decision-making by the local council to facilitate economic growth in the Queenstown area.