Property

New town soon to be set in concrete

The construction of Five Mile, near Queenstown, is now in full swing, with the casting of concrete foundations for the new town’s first stage.

Friday, September 21st 2007

This week, one of the largest crane’s ever to be seen in the region was moved on site to begin construction. The 200-ton capacity crawler crane will be used to manoeuvre almost a kilometre of concrete tilt-slab panels into place on the SH6 site, adjacent to the Queenstown Events Centre. Weighing 80 tonne and measuring 20m long by 5m wide, the panels are also likely to be the largest ever poured in Queenstown.

The foundations will form part of an extensive underground car park, servicing the new urban centre on Frankton Flats. Five Mile, which will eventually house up to 10,000 people, will offer a range of residential and visitor accommodation, boutique and large-scale retail, education institutions, commercial quarters, and outdoor spaces.

Five Mile chief executive Dave Henderson says laying the foundation is a significant milestone in the construction of Five Mile, which has taken more than 15 years to plan.

Preparation work for stage one was completed last month, and included excavation of building foundations and an extensive underground car park. About 250,000 cubic meters of soil has been removed from the Five Mile site since February.

Creating the foundation and basement walls of the first stage began this week, and will take approximately 120 days to complete. Development of the aboveground area of the town is also progressing, with designs for Five Mile’s first building lodged for consent in June. The building – one of 180 being designed for the new town’s first stage – is a large-scale, mixed-use development, incorporating Queenstown’s largest supermarket, several specialty shops and accommodation.

  

SBS FirstHome Combo 6.74
Heartland Bank - Online 6.89
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.55
SBS Bank Special 6.69
TSB Special 6.75
Westpac Special 6.75
China Construction Bank 6.75
ICBC 6.75
AIA - Go Home Loans 6.75
ASB Bank 6.75
Unity 6.79
Co-operative Bank - Owner Occ 6.79
SBS Bank Special 6.19
ASB Bank 6.39
Westpac Special 6.39
AIA - Go Home Loans 6.39
China Construction Bank 6.40
ICBC 6.49
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
TSB Special 6.59
SBS Bank 6.79
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

More Stories

Rate cuts needed to lift mood

Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Support for regulation

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

A better investment market

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

[OPINION] Recessionary times

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.