Business South January 2024

48 | DEVELOPMENT Dunstan Park T T Ange Davidson Alexandra’s relaxed living and scenery Over 85% of Dunstan Park’s first stages were purchased by locals. A new subdivision in Alexander in Central Otago has been an outstanding success with most of the 71 sections now sporting a ‘sold’ sticker. Stages 1,2 and 3 of the 71-section subdivision sold quickly during the post-Covid boom as people took advantage of Alexandra’s relaxed living and spectacular scenery at more affordable prices than the nearby resort towns of Wānaka and Queenstown. Dunstan Park marketing manager Rachel Kerr says the subdivision was initially only advertised within the region to give local people a chance in a very competitive housing market. “Over 85% of Dunstan Park’s first stages were purchased by locals as people have been looking for somewhere to retire or downsize their existing property. Many of the sections were purchased by local building companies who are building to meet the market,” says Rachel. “Property sales have slowed down since the initial release but there is still plenty of demand for sections as the housing crisis is Central Otago is not going away.” “To meet the present market, we are changing the Dunstan Park model for Stage 4 and have a mix of house and land packages, and 2-3 bedroom House and Land duplexes which are quite new for Central Otago and a first for Alexandra. “Already four of the 14 duplexes are under contract. The duplexes are ideal for investors, first home buyers, retirees or as a lock and leave holiday home,” says Rachel. “Smaller properties are proving popular as building costs and the general cost of living is escalating. It’s proving harder for people to get finance from banks to get a large building project over the line whereas it used to be a given in Central Otago. The 2- and 3-bedroom duplex homes are designed and built by local building company, Stroud Homes, and have a shared boundary fence, garaging, private outdoor area and basic landscaping alongside a modern, well designed and low maintenance home. The 3- Bedroom option with two bathrooms is priced at $749,000, and the 2 Bedroom option at $729,000. Dunstan Park is a successful joint venture between the Central Otago District Council and Imagine Property Group. This is the second joint venture for the council who were partners in the 80-section subdivision at Gair Avenue in Cromwell. With a joint venture there is little risk for the ratepayer as the developer carries 100% of the risk and the council gets further funding plus more control within the development. “Property sales have slowed down since the initial release but there is still plenty of demand for sections as the housing crisis is Central Otago is not going away.” “High density housing is the way to go for so many reasons. “ It’s going to help people enter the housing market and help with the region’s housing shortage, plus it’s low maintenance living which is important for attracting investors as we need to curb the rental housing shortage,” believes Rachel. “Alexandra is a fantastic location with the Clutha River flowing through the town and easy access to the Otago Rail Trail, walking trails through old gold mining country and award-winning vineyards. Dunstan Park is close to the Alexandra Golf Course, Molyneux Recreational Hub and has greenways to local Primary and High Schools which makes the sections attractive for so many different lifestyles.” Alexandra is a vibrant town set in an extraordinary landscape that is distinctly Central Otago. The subdivision is named after the Dunstan Range which can be seen from Alexandra. Commuting to Wānaka or Queenstown takes from an hour to 75 minutes through some of the southern region’s most spectacular scenery. • For more information contact Rachel Kerr 027 499 0935 or visit