Safari Group Launches New Apartment Complex in Queenstown Post-Covid

Safari Group launched its first apartment complex in Queenstown since the pandemic. This complex, called Mountain Oak, is their fifth development in the area and fourth in Remarkables Park, Frankton.

The complex features 141 units, including one- to three-bedroom apartments, dual-key options, and penthouses. Prices range from $639,000 to $1.5 million. Rob Neil, the owner of Safari Group, stated the retail value of the complex is about $130 million, making it his largest local project.

Originally, Neil planned to build a hotel/apartment complex under Wyndham’s TRYP brand. However, the project has shifted to a more residential focus, allowing owners to rent their units for visitor accommodation. Neil believes there are enough hotels in Remarkables Park and that Mountain Oak will enhance the existing offerings, which include Ramada, Wyndham Garden, and La Quinta.

Neil plans a full launch for Mountain Oak in February, targeting markets in Auckland, Sydney, and Melbourne. He expects a drop in the official cash rate before this launch. He reported that 35 to 40 units are already under contract in Auckland due to a soft launch there, with several potential buyers from Queenstown, including first-time homeowners.

– What are the key features of the Mountain Oak apartment complex in Queenstown?

Interview with Rob Neil, Owner of Safari Group: Launching Mountain Oak in Queenstown

Editor’s Note: In a recent interview, Rob Neil, the owner of Safari Group, shared insights into the newly launched Mountain Oak apartment complex in Queenstown, the company’s strategic shift post-pandemic, and the evolving real estate market in the region.

Q: Rob, can you tell us about the Mountain Oak project and what makes it significant for Safari Group?

A: Mountain Oak is our first apartment complex in Queenstown since the pandemic, and it holds great significance for us—it marks our fifth development in the area and our fourth in Remarkables Park, Frankton. With 141 units, including one- to three-bedroom apartments, dual-key options, and penthouses, it’s our largest local project, valued at around $130 million.

Q: Originally, you had plans to build a hotel/apartment complex. What prompted the shift to a more residential focus?

A: The decision to pivot towards a residential focus was primarily influenced by the current market conditions. We believe there are already enough hotel options in Remarkables Park, such as Ramada, Wyndham Garden, and La Quinta. By emphasizing residential offerings, we are providing owners the opportunity to rent their units as visitor accommodations, which aligns with the market demand.

Q: There seems to be a lot of interest in Queenstown right now. How do you gauge this interest?

A: The level of interest in Queenstown has been remarkably high, even more than in previous years. We’ve seen a strong soft launch in Auckland, with 35 to 40 units already under contract. Additionally, we’re receiving inquiries from potential buyers right here in Queenstown, including first-time homeowners. This reinforces my belief that we should act swiftly, as I foresee prices rising by late next year.

Q: What is your strategy regarding the upcoming launch?

A: We’re looking to fully launch Mountain Oak in February, targeting markets in Auckland, Sydney, and Melbourne. I also anticipate a drop in the official cash rate before our launch, which could further stimulate interest among buyers.

Q: Could you tell us more about the construction timeline for Mountain Oak?

A: Certainly! Construction is set to commence in late April or early May, and we expect it to take about 20 months to complete. We’re excited about bringing this development to fruition and contributing to the community here in Queenstown.

Rob Neil and Safari Group are poised to make a significant impact on the Queenstown real estate landscape with the Mountain Oak complex, promising to enhance the area’s offerings and cater to the growing demand for residential properties.

Neil noted a surprising level of interest in Queenstown, stating it is higher than in previous years. He advised investors to act now, as he anticipates rising prices by late next year.

Construction for Mountain Oak is set to begin in late April or early May and will take about 20 months to complete.