Arrowtown's Arrowfields a sell-out

Arrowfields1 Small

Just 17 months after the first sale, Arrowtown’s Arrowfields subdivision is a sell-out. The 20-Lot subdivision was hailed as a unique new lifestyle subdivision at its launch, offering sections between 600sqm and 1,073sqm. Sale prices within the development ranged from $500,000 through to $595,000.

Managing director, Alastair Wood, says ‘We’re delighted to confirm the last sale in Arrowfields and see it taking shape. The sell-out result is testament to the planning and forethought that went into the concept by the developers. Zoning rules and town centre boundaries ensure vacant sections of bare land in Arrowtown are both rarely-available and tightly-held. The end product will be an exceptional place to live and we’re extremely proud to have led the sales campaign.’

The sales process evolved from initial section sales to Colliers International working with local homebuild companies to create housing options for the sites, helping potential purchasers understand what their build pricing was likely to be to unlock the value in the land.  Adapting to the changing requirements of the buyer market was key to a successful campaign says co-listing agent Stephen Hebbend – ‘We listened to buyer concerns around their need to meet a certain price point for their new home, and were able to bring in the right expertise to ensure the pricing was both clear and achievable. It’s enabled some of our purchasers to fulfil a long-held dream of living in Arrowtown, something many thought would not be feasible.’

The development is located close to the village centre and retains rural appeal through its position on the edge of Arrowtown’s current residential area, combined with a major native regeneration project seeing the land restored to an enriched ecosystem for wildlife and people to share and enjoy. Tracks lead from the subdivision into the neighbouring residential area providing crucial links to the local community.


Related Experts
expert photo

Alastair Wood

Director | Commercial Broker | Sales and Leasing

Queenstown

Alastair is one of the most experienced property professionals in the Otago region, with over 25 years’ property experience in the Queenstown-Lakes, Wanaka and Dunedin districts. Building lasting relationships with his clients, he has a strong reputation for results, integrity and his strategic approach to bringing deals together to the satisfaction of all parties.

Specialising in investment sales of commercial property and development sites, Alastair also takes the lead in syndicated property sales and equity raises, introducing commercial investment to a wealth of new customers. He has worked closely over the last six years with Mitchell Mackersy in various equity raises for syndicated commercial investments. 

A director of Otago Realty (NZ) Ltd (a member of Colliers International Group), operating throughout the Otago and Southland regions, Alastair has also held various directorships in other property related entities including Maori Hill Property Ltd which now has in excess of $1 billion under management around New Zealand. He is a Fellow Member of the Real Estate Institute of New Zealand (REINZ) and a former Fellow Member of the New Zealand Institute of Valuers. Also a past chair and board member of Downtown Queenstown, which helped in the formation of the Queenstown Town Centre Master Plan.

Outside of the office, the father of three is a keen outdoorsman, taking advantage of Queenstown’s iconic landscape.

View expert