Key Takeaways
- The Karamata Peak subdivision is a luxury enclave located atop Queenstown Hill, comprising 96 sections
- The first release includes 23 sections, ranging in size from 535 to 2085 square meters, with prices between $1,490,000 and $5.25 million
- The block’s medium-density zoning allows for one dwelling per 250 square meters, making it suitable for duplex townhouses
- The development is expected to be completed by mid-2028, with further releases planned once the first lots sell out
- The location offers outstanding views of Queenstown, making it a highly sought-after area
Introduction to Karamata Peak
The Karamata Peak subdivision is a prestigious luxury enclave situated atop Queenstown Hill, offering breathtaking views of the surrounding landscape. The development comprises 96 sections, with the first release featuring 23 sections of varying sizes, ranging from 535 to 2085 square meters. The prices for these sections are between $1,490,000 and $5.25 million, making it a highly exclusive and sought-after location. The name "Karamata" is derived from te reo Māori, meaning "pinnacle" or "summit," which aptly describes the elevated position of the development.
Location and History
The Karamata Peak subdivision is located on the last 10.1336-hectare block of Commonage land, which was originally vested in the local council by the government in 1971. The block was sold earlier this year to Commonage Queenstown GP Ltd for $33 million, marking a significant investment in the area. The development’s proximity to Queenstown Hill and its elevated position make it an unmatched opportunity for those seeking a luxurious lifestyle with stunning views. The area is highly sought after, and the release of these sections is expected to generate significant interest from potential buyers.
Development and Zoning
The block’s medium-density zoning allows for one dwelling per 250 square meters, making it an ideal location for duplex townhouses. The development will be completed in stages, with the entire project expected to be finished by mid-2028. The first release of sections has already generated strong interest, with potential buyers eager to secure a stake in this highly desirable location. The development will include road and infrastructure development, streetscaping, and secondary access off Kerry Drive, ensuring that the area is well-connected and easily accessible.
Marketing and Sales
The sections are being marketed by local Colliers sales consultants Alastair Wood, Tim Thomas, and Eoin Miles, who are experienced in handling high-end developments. Wood notes that the first release has already generated significant interest, with many potential buyers eager to secure a section in this exclusive location. The prices for the sections are competitive, considering the location and the quality of the development. The marketing team is expecting strong demand for the sections, with further releases planned once the first lots sell out.
Conclusion and Future Plans
The Karamata Peak subdivision offers a unique opportunity for buyers to secure a luxurious lifestyle in one of Queenstown’s most sought-after locations. With its stunning views, elevated position, and high-end development, this area is expected to be highly desirable for years to come. The development’s completion by mid-2028 will mark a significant milestone in the area’s transformation, and the release of further sections will provide additional opportunities for buyers to invest in this exclusive location. As the first release of sections continues to generate interest, it is clear that the Karamata Peak subdivision will be a highly successful and sought-after development in the years to come.