Prominent New Zealand apartment and hotel operator, <a href="https://www.urban.com.au/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Joel Robinson

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Diversified New Zealand developer <a href="https://www.urban.com.au/developers/safari-group">Safari Group</a> has introduced a gateway for investors and homeowners to the "adrenaline capital" of &nbsp;New Zealand, situated in the picturesque suburb of Frankton.

Safari's apartment development, Mountain Oak Apartments, will be located in Frankton’s masterplanned precinct, Remarkables Park, offering a mix of 141 apartments ranging in size from 49 sqm to 249 sqm.

The development includes 36 one-bedroom and one-bedroom flexi apartments, 40 two-bedroom and two-bedroom flexi apartments, four three-bedroom apartments, three penthouses, and four private entry apartments.

Dual-key apartments—comprising two separate residences held under one title—are also available.

Its location ensures residents and visitors are just a short drive from popular slopes like Coronet Peak and Cardrona Alpine Resort.&nbsp;

Additionally, the development capitalises on its proximity to essential facilities, including the airport and extensive retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market.

The historic village of Arrowtown, known for its rich gold rush history and scenic trail network, is also just a 30-minute drive away, offering an alternative destination for history and nature enthusiasts.

<img alt="Safari Group’s Mountain Oak Apartments living area" data-entity-type="file" data-entity-uuid="957d1777-8b2b-420e-8a81-f22b75151b85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Frankton is a burgeoning area located just seven kilometres from Queenstown’s bustling centre. While Queenstown is a popular year-round holiday destination, its busiest season runs from mid-June to mid-September, coinciding with the snow season.

"It peaks all year round, in both winter for skiing and snowboarding, and summer for hiking, cycling, and water sports," said Safari Group Senior Development Manager Josh Van Veen.

Queenstown’s popularity ensures consistent high demand for short-term visitor accommodations, holiday homes, and residences for long-term tourism workers.

"There is high demand for both tourist and residential living, coupled with a shortage of housing options and limited supply for both renters and home buyers," Van Veen said.

After New Zealand locals, Australians are the second most active buyers in the New Zealand property market. They are particularly drawn to Queenstown’s ski fields due to their affordability and investment potential.

Unlike Australia, New Zealand does not impose stamp or transfer duty on property purchases, saving Australian buyers a minimum of four per cent compared to similar transactions at home.

Safari Group has calculated that the average annual gross return for a Mountain Oak Apartment operating as visitor accommodation is 7.43 per cent.

"Queenstown properties generally offer good returns on investment, making this an excellent opportunity for investors to either dip their toes into property investment or expand their portfolios," Van Veen said.

<img alt="Safari Group’s Mountain Oak Apartments dining area" data-entity-type="file" data-entity-uuid="b24ce18d-f4e3-4b9e-9a01-a6173cdcd5b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Mountain Oak has been designed with this flexibility in mind, offering buyers multiple options. Buyers can opt for long-term rental management to cater to Queenstown's tourism and hospitality workforce or short-term visitor accommodation management to leverage the region’s thriving tourism market.&nbsp;

Buyers can use either the Safari management service, or find their own management provider - this is not something they have to decide straight away.&nbsp;

The Safari short-term accommodation option includes comprehensive services such as cleaning, administration, and 24/7 on-site guest support, providing a hassle-free investment experience.

For homebuyers seeking a permanent residence, Mountain Oak offers spacious apartments with expansive windows that frame breathtaking views of The Remarkables mountain range.

The apartments feature modern amenities, including electronic key-locked front doors, acoustically treated flooring, and underfloor heating in bathrooms, ensuring secure and comfortable living in the Alps.

Kitchens are equipped with premium Fisher &amp; Paykel and Haier appliances, complemented by luxurious yet durable engineered or porcelain benchtops and splashbacks.&nbsp;

Residents can choose between light and dark interior colour schemes to suit their preferences.

One-bedroom apartments at Mountain Oak start from NZ$639,000 (AU$586,000).

Queenstown’s popularity ensures consistent high demand for short-term visitor accommodations, holiday homes, and residences for long-term tourism workers

Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown

Diversified New Zealand developer&nbsp;<a href="https://www.urban.com.au/developers/safari-group">Safari Group</a>&nbsp;is expecting its newest apartment development to appeal to both locals and overseas investors, given its prime location on the fringe of Queenstown.

Safari Group is set to launch&nbsp;Mountain Oak Apartments in Frankton, just seven kilometres outside of Queenstown's centre and&nbsp;three kilometres from the airport.

Mountain Oak Apartments will have a mix of 141 one, two and three-bedroom apartments starting from NZ$639,000 (AU$586,000).

Residents of Queenstown, as well as local and overseas investors, are expected to show significant interest in the apartments that are located close to one of Queenstown's best ski slopes, The Remarkables.

Apartments start from 49 sqm and range in size to 249 sqm. There will be 36 one-bedroom and one-bedroom flexi apartments, 40 two-bedroom and two-bedroom flexi apartments, four three-bedroom apartments, three penthouses, and four private entry apartments.&nbsp;

Dual-key apartments from 74 sqm are also available. A dual-key apartment is legally one property held under one title, but they are actually two separate residences. There is a shared entryway but two separate front doors, providing an opportunity for double rental income.

Mountain Oak Apartments deliberately doesn't have extensive onsite facilities, knowing their likely usage is for ski holidays. The idea is to keep body corporate costs down for investors.

Architecture firm Studio 37 designed Mountain Oak Apartments.

Studio 37 Director,&nbsp;Gary Bickerton, said&nbsp;Queenstown’s beautiful environment is the inspiration for the design of the apartment building.

"The inspiration from the environment is reflected in the choice of natural colours and materials in the design of the building.&nbsp;The building design is derived from classic proportions, modulated to create a natural balance in the articulated facades.

"The master planning of the building allows the design of the apartment’s living spaces to have spectacular views of the surrounding landscape of Queenstown."

<img alt="Frankton" data-entity-type="file" data-entity-uuid="9b4c0033-d2ae-45d4-b3ea-2a05bf81e213" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%202.54.06%E2%80%AFPM.png?VersionId=Y9YCJHiDxsgXEKjZlKhuWbbRm4_.Ah0C" />

Queenstown is a popular holiday destination year-round, but is busiest during the snow season, which runs from around mid-June to mid-September. Queenstown’s popularity means short-term visitor accommodations are in high demand, and Safari Group has calculated that the average annual gross return for a Mountain Oak Apartment running as a visitor accommodation is 7.43 per cent.

After New Zealand locals, Australians are the second most active buyers in the New Zealand property market. Of the 33,609 home transfers in the June 2024 quarter, 804 were to buyers who stated an overseas tax residency, according to Statistics NZ. Of the 804, 306 were from Australia.

There is no stamp/transfer duty for Australians to pay when they buy property in New Zealand, in comparison to the four per cent minimum they have to pay in Australia.

Safari Group was founded in the mid-1990s, and has since established a reputation for building some of New Zealand’s most prized mixed-use properties. Safari Group is still one of the only vertically integrated property developers, handling both the development and the construction process.

Safari Group has had success in Queenstown before, developing four mixed-use residential hotel properties in the area since 2016: the La Quinta, Wyndham Garden and two Ramada Hotel and Suites.

Safari Group Senior Development Manager, Josh Van Veen, said Queenstown is a place that is high on people’s travel lists, both from locals and those living internationally.

"Queenstown is the premier all-seasons visitor destination of the South Island,"&nbsp;Van Veen said.

"It peaks all year round in both winter for skiing and snowboarding, and summer for hiking, cycling and water sports."

Van Veen said the property market in Queenstown is always strong due to strong rental demand.

"There is a high tourist and residential living demand and a shortage of housing options, with a limited supply of stock for both renters and home buyers.

"There are lots of short-term visitors and long-term tourism workers always in the area looking for a place to stay or live.

"Queenstown properties generally give a good return on investment, so this is an opportunity for investors to either dip their toes into property investment or continue their investment journey and add another property to their portfolio."

Aussies drawn to Queenstown ski fields for affordability and investment potential

Despite Australia being renowned for its&nbsp;world-renowned beaches, Aussies love the snow.

There&#39;s no shortage of ski fields, albeit for Sydneysiders they&#39;re a six hour drive to the closest, well inland from Canberra. Melburnians have a slightly easier drive to Mt Buller, which is about half the distance.

And while the ski fields are more locals, most Aussies who are keen ski enthusiasts look elsewhere in the southern hemisphere when they dig out their salopettes once a year.&nbsp;

The most favoured spot is Queenstown, where some of the world&#39;s best ski fields live. For Sydneysiders, it can take less time to fly to Queenstown and hit the slopes than to drive to Thredbo or Perisher.

The Auckland-based developer&nbsp;Safari Group&nbsp;recently noted the number of Queenstown residents who were based in Australia when they were putting together plans for their recently launched development Lakecrest,&nbsp;25 well-appointed apartments and six multi-level villas on Queenstown&#39;s sought-after hill.

<a href="https://lakecrestqueenstown.co.nz/"><img alt="" height="1090" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-18_at_1.24.39_pm.png" width="1958" /></a> 
A render inside one of the villas. Image supplied

&ldquo;What we have seen over the past few months, with the border reopening and now the relaxation of pre-departure testing, is a massive influx of bookings from our Australian friends,&quot;&nbsp;Safari&rsquo;s Senior Development Manager, Simon Taylor says.

&quot;We know that prior to Covid, over 70 per cent&nbsp;of all international arrivals who skied were Australian, and when they come down to Queenstown, they fall in love and before they leave, are planning their next trip back.&rdquo;

<a href="https://lakecrestqueenstown.co.nz/"><img alt="" height="1084" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-18_at_1.25.05_pm.png" width="1952" /></a> 
A render inside one of the villas. Image supplied

Taylor says while many Australians have already purchased a holiday home in Queenstown, there will still be more who are looking at Queenstown as a potential option for retirement.

&quot;Queenstown is no longer just a tourist destination, it has steadily grown as a popular retreat for those wanting retirement with a stunning backdrop, access to world class golf courses, walks, lakes and wineries.&quot;

Lakecrest is located in Queenstown&#39;s most sought-after spot. Anything on the hill looks down to Lake Wakatipu and has sweeping views across the whole of the town.

Lakecrest&#39;s six luxury villas are located at the top of the elevated site and offer either three, four or five bedrooms, with extensive terracing off the living areas. And of course each come with a fireplace.

There will be 25 two and three-bedroom apartments on offer,&nbsp;

&quot;Given this special location, we wanted ensure the offering was a perfect pairing,&quot; Taylor added.&nbsp;

Construction on Lakecrest will start at the end of the year, with completion slated for early 2024.

Lakecrest is Safari Group&#39;s fifth Queenstown project, having previously delivered Residences Queenstown Central and&nbsp;Residences Kawarau River. They own and operate the Wyndham Garden and LQ Kawarau River hotels.

Safari Group

Recent news and updates

Developments

New apartments

New townhouses

News