A nine-bedroom chalet in one of Queenstown’s first large-scale subdivisions, currently serving as luxury worker accommodation, represents a rising trend for employers to provide high-quality housing solutions for their staff in response to the region’s rental market pressures.
The premium four-year-old home on 550sqm (more or less) of freehold land at Chalet 10, Alpine Avenue, is occupied by quality tenants, generating circa $222,300 gross per annum from a lease to March 2025.
Bayleys Queenstown salesperson Sheryl Williams says the district’s resident population effectively doubles at peak times, particularly during the winter ski season, resulting in an acute supply-demand imbalance and insatiable demand for rental assets.
“Escalating population growth and a shortage of high-quality rental housing continue to exacerbate supply pinch points across the region.
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"At the same time, more businesses are establishing operations in Queenstown, attracted to the area for rapidly evolving commercial benefits, growth prospects, and a world-class resort lifestyle.
“Through this lens, the subject property provides an exquisite edge, given it has been built to the highest modern specifications, whilst providing lucrative lease terms - making it an attractive proposition for investors looking to leverage local rental demand.
“As businesses, workers, and a growing permanent resident population flock to the area, the appetite for high-calibre housing solutions is poised to increase, promoting solid returns and growth potential for investors,” she says.
Williams is marketing the property for sale by deadline plus GST (if any) with Bayleys colleague Nick Newman, closing at 4:00 pm on Thursday, 25th July 2024 (unless sold prior).
The multi-level residence features nine bedrooms with private ensuites, one primary bathroom, and a wash closet.
The home features an internal floorplate of 420sqm (more or less), including large communal living areas, laundry facilities, outdoor living spaces, storage sheds, and six off-street car parks.
Bayleys salesperson Nick Newman says the well-insulated and north-facing property has been thoughtfully configured as executive worker accommodation to meet the high level of demand for luxury residences.
Each lockable bedroom features a mini fridge, microwave oven, and heat pump.
“In addition to its versatility as an exclusive private residence or investment property, the chalet may appeal to purchasers seeking diversification, particularly given new tax rules determining GST must be levied on all accommodation bookings through online platforms.
“These changes may see more investors return to the long-term rental market, particularly given recent tenancy law changes which have increased landlord confidence in rental property management.
“Given that residential investment opportunities of this quality, size, and layout are extremely rare in this tightly held market, the property represents strong investment value and flexibility for use as a private multigenerational permanent or holiday home.”
The property is well-positioned within walking distance of Kawarau Park, with its cafes, eateries, boutique retail, medical facilities, childcare, and schooling options nearby.
“With excellent connectivity to major transport routes and just a 10-minute drive from Queenstown Airport, the distinctive residence is perfectly situated to benefit from the region’s growth and development. The surrounding area is renowned for its world-class skiing, hiking and adventure sports, making it a desirable location for business operations and residents alike.”
- Supplied by Bayleys
