Luxury for Wanaka
Infinity Investment Group has unveiled plans to build 44 luxury five-star apartments on its Marina Tce block directly opposite the Wanaka marina.
Prices for the apartments are expected to start at $995,000, ranging to $1,795,000 for the luxurious penthouses.
Designed by Dunedin-based architects Mason & Wales, the apartments include timber and schist stone features and a heated swimming pool, spa pool and gym will be available for owners.
A restaurant, cafe and bar specialising in fresh regional food and wine will also be part of the complex and will be open to the public.
Managing director Bob Robertson said the development would be one of the most significant in Wanaka for some time.
''This is a substantial development in Wanaka's 'dress circle' on the best remaining piece of waterfront land in Wanaka so we intend to do it well,'' Mr Robertson said.
''These apartments are extremely versatile and each apartment actually allows seven different renting combinations from single hotel rooms, two-bed apartments or three-bed apartments.
''This offers maximum revenue opportunities to owners and captures all rental markets from those just wanting a single hotel room to those needing a full three-bedroom apartment.
''We will be working extremely hard to keep costs fine-tuned so that these apartments will represent exceptional value to owners. Based on the current designs and costs we expect all will sell quickly,'' Mr Robertson said.
Construction is to start after the first pre-sales are confirmed.