GYP Properties Limited

Remarkables Residences FAQ




What makes this development special?

Remarkables Residences is Queenstown’s first urban development of substantial terraced homes. This unique development raises the level of living in Central Otago, offering an affordable lifestyle for a range of buyers in the heart of Queenstown’s growing Frankton district. Nestled at the foot of the stunning Remarkables, the amazing development offers:

•    Easy access to Queenstown’s world-famous attractions.

•    An active social lifestyle within a thriving community.

•    Architecturally designed living inspired by the natural environment.
•    Landscaped spaces with indigenous planting.

•    3-5 bedrooms plus additional studio and office options.

•    Family living and/or rental accommodation.

•    Low maintenance design with body corporate in charge of external maintenance and landscaping.

•    Simplicity of ownership.

•    Optional property management and/or leasing.

What am I purchasing?

You are buying a terraced home on a freehold strata title, within both a body corporate and residents society structure.

What does freehold strata title mean?

Freehold strata title means that you own your unit and a share of the common property.

What is a Body Corporate?

A Body Corporate is the management body of a building. Every owner of a Unit Title development is automatically a member of their particular building’s Body Corporate. The Body Corporate meets annually to discuss and determine administrative matters, insurance, finance and maintenance of their building. The responsibilities of the Body Corporate are further defined in the Unit Titles Act 2010.

What is a Residents Society?

The Residents Society holds a range of responsibilities including maintaining community facilities, facilitating community events, monitoring of the development’s covenants (rules), addressing disputes, and protecting and maintaining the community standards.

What will my Body Corporate and Residents Society contribution be?

Your real estate agent will be able to provide you with draft Body Corporate Rules and a Draft Body Corporate Budget which will indicate what the Body Corporate rates are expected to be.

Is there going to be on-site Body Corporate Management at Remarkables Residences?

There will be a building manager appointed who will have an onsite presence every weekday. They will also be available 24/7 for any complaints and emergencies.

How many homes will there be in the whole development?

There are approximately 200 to 225 houses in total across all stages. There may be apartments included in later stages. If so, these will be designed to complement the overall Remarkables Residences community.

How long will my home take to build?

The development will be staged with the first houses scheduled to be completed by the third quarter of 2019. Construction is currently underway.

What community facilities will be available?

There is a pocket park in the first stage and further pocket parks in later stages, providing amenity space and pedestrian links throughout the development. Plans for the area that have been submitted include; supermarkets, retail, cafes, and restaurants, all within walking distance.

What happens to rubbish?

There will be communal rubbish collection points. The Body Corporate will be responsible for collection and disposal of all rubbish.

What outstanding features will be in the homes?

The houses are designed with an active lifestyle in mind. The interiors and exteriors are high quality, while being low maintenance. The homes are ideally suited for owner occupiers, investments or holiday lets. All homes include the following:

•    Dedicated street address and direct entry front door.

•    Private courtyard and/or deck for enjoying the outdoor environment.

•    A single internal access garage.

•    Well-appointed ensuites including under floor heating for those winter mornings.

•    Heat pump for moderating the inside temperature to your liking.

•    A high level of sustainability with a range of energy and water saving features including;
    ◦    Low water use toilets and tapware.

    ◦    LED lights.

    ◦    Efficient water cylinders.

    ◦    Full insulation.

    ◦    Double glazing.

What car parking is available for residents and visitors?

Each house will have a private garage and driveway large enough for an additional car to park. There will also be unreserved street parking available.

How much deposit is required to purchase?

Buyers are required to pay a 10% deposit upon signing the Sale and Purchase Agreement. 20% applies to non-resident buyers.

Is my deposit safe?

Yes. Your deposit will be held in the trust account of the vendor’s solicitor, Burton & Co.

Who is the development team?

A high quality team with extensive experience in this form of development. All of which have Queenstown experience and finished projects in the Region.

•    GYP Properties Limited – Developers

•    Ignite Architects – Architects

•    Baxter Design Group – Landscape Architects

•    Brown and Thomson – Structural Engineers

•    Maven Associates – Civil Engineers

•    Barkers & Associates – Town Planners

•    Ecubed – Services Engineers

Does the developer have building warranties?

There are various vendor and building warranties which are for the benefit of the purchaser. Some are provided by the vendor, while others are provided by the builder or the suppliers of materials and products for the construction and fit-out of the building.

•    The purchaser will receive the warranties on appliances and fit out materials used in the construction as provided by the suppliers.

•    Some building materials and works e.g. electrical and plumbing, etc. are warranted by the suppliers as per their producer statements.

•    In compliance with the Building Act, there will be a weathertightness warranty from the builder for 10 years from practical completion.

•    The purchaser will also receive a maintenance warranty providing 12 months for notification and rectification of defects.

All building warranties will be in accordance with the NZ Building Act 2004.

Will the homes be watertight?

The homes will be designed to the utmost standards to exceed structural and weathertightness requirements of the New Zealand Building Code. They will also be certified by our professional consultant team and checked and approved by the local council under the building consent process.

Will my home be soundproofed?

Acoustic glazing and Building Code compliant soundproofing will be used throughout the building for quietness and privacy.

Will the property be built to seismic codes in New Zealand?

The buildings will be built to meet the current New Zealand Loading Standard NZS1170:2004 including the requirements of Part 5:Earthquake Actions.

Can I rent my home out privately?

Yes, homes can be privately let and there is the option to take up a complimentary one year management services agreement for your home. Please request for a Queenstown Accommodation Centre handout from your selling agent for further details.

Can I have my pet live in my home?

Yes, pets are permitted. The Body Corporate approves all pets and has common sense rules to ensure pets do not interfere with the enjoyment of other apartment owners. Please refer to the draft Body Corporate rules.

How will I be kept informed of the progress?

On behalf of the developer, Bayleys will be sending out regular newsletters to purchasers to keep you updated with construction progress.

Unless you are a NZ citizen, Australian citizen or Singaporean citizen, you may require OIO consent to purchase the property. In some cases, if you qualify as “NZ resident” as the term is defined in the Overseas Investment Act 2005, consent may not be required. Visit the OIO website (here) to obtain new information as to whether you need to apply for OIO consent. We recommend that you discuss your situation with your lawyer to confirm whether you will need OIO consent to purchase the property.