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Queenstown’s newest Special Housing Area Development (SHA) huge hit with local first home buyers 

February 24, 2017 Lifestyle No Comments Email Email

Stage One of Bullendale, Queenstown’s newest SHA development at Arthurs Point, has been snapped up by first home buyers with all bar one home sold in stage one. Stage one comprises of 14 semi-detached alpine townhouses ranging from 105 -165 square metres with a mixture of two and three bedroom configurations.   Following the deadline sale close date of 14 February, 13 homes are now sold with 10 being purchased by first home buyers.  Successful local bidders Joel Gebbie and Simone Jacobs were “stoked” to hear their bid had been successful.

“We hoped we’d be in with a chance when we submitted but when the agent Kate called me I was absolutely stoked,” said Simone.  “I called Joel at work to let him know and his boss filmed his reaction. He was pretty shocked and underwhelmed but then called me back super excited.”

“I was in shock,” said Joel. “I let it sink in for a bit and then thought wow we’re home owners. It happened so suddenly.”

The late 20s couple, who met overseas and moved to Queenstown in October last year, saw an opportunity to get on the property ladder at Bullendale and decided to place a bid for one of the two bedroom homes.

“We saw it as great opportunity as there’s nothing else out there for this price and location. We love the location and the layout of the home is a good mix of privacy with one bedroom on the lower level away from the rest of the home and a social home with a great open plan kitchen, dining and lounge,” said Joel.

“Renting is so expensive here and we wanted to create a better future for ourselves. As it’s a new development, it’ll give us time to save more over the next few months which was another draw card for us. We can get on with our lives without the worries of building our own home and by the end of the year everything’s done and we can move into our new home,” said the couple.

Developer Shane Fairmaid said “Simone and Joel submitted a nice letter outlining their quest to own their own home. It really reminded us of just how tough it is for young people living in Queenstown and we’re delighted so many young people like Simone and Joel have decided to buy in stage one.”

“To a large extent the Queenstown market has been dominated by investors looking for capital gain whereas the sales process run at Bullendale was more first home buyer friendly giving those prospectors time to consider what was on offer without running the risk of investors pushing in ahead of the first home buyers. It means that most of the homes will be occupied longer term which is always better for the community.”

It has also been confirmed that national home builders Mike Greer Homes will build the homes and design work is already well underway towards an on-site start date of May 17. The first homes will be completed by late 2017.

Comprising 12 homes and priced from $609,000, stage two will be launched to the open market in late February and completed by the end of 2018. Stage two comprises a mix of two and three bedroom homes in a similar alpine style to stage one.

The entire development comprises of 88 townhouses and apartments and is targeted for completion in late 2019.

Queenstown locals Joel Gebbie and Simone Jacobs are stoked to have bought their first home at Bullendale

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