A luxury lodge just outside of Queenstown has sold for $25.75 million, setting a new price record for the region.
The 920sqm, four-bedroom home sits on a 13,590sqm section in a gated community overlooking Lake Wakatipu and Cecil Peak.
It is being built by high-end property developers B Group after two residences in the neighbouring lakeside development sold for $13m each.
The listing agent for the lodge, Ray White’s Ross Hawkins, would not disclose the buyer’s identity but told OneRoof that he was doing “significant under-the-radar business” in lifestyle properties, with a lot interest coming from out of Australia.
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“This market has only become stronger,” he said. “There is a real move in New Zealand to lifestyle properties and enjoying what we have right here on our shores.”
Hawkins said that demand for high-end properties in New Zealand was strong, and that Queenstown was likely to see more $20m-plus sales.
“These buyers are not so reliant on the banks and if they really want the product they are happy to just pay the price to secure these offerings.”
The house is designed on sustainable principles, and has spectacular views of Lake Wakatipu. Photo / Supplied
The $25.75m sale price is a record for Queenstown. There has been a handful of lodges and high-end homes that have sold for between $10m and $20m in the last 12 months but no Queenstown residential property has sold for more than $20m until now.
The house on Forest Line Rise includes an infinity lap pool, infrared sauna, cold plunge pool, gym and treatment room, plus solar power, circadian rhythm lighting and air and water purification.
It is scheduled for completion in late 2023, when owners can turn the full management of the property to the developer for rents that may reach up to $20,000 a night.
Hawkins is now marketing another B Group new-build home in the neighbourhood with fractional ownership: eight owners can buy a share of a $30m home for $3.75m, which entitles them to 45 days’ use of the home (or income if nights are let out), use of a car and boat.
Buyers can buy lodge membership using non-fungible tokens (NFTs), cryptographic assets on a blockchain, to purchase 40 nights in the lodge plus some $140,000 worth of services like electric vehicles, boats and spa treatments and sell their NFTs on a secondary market.
New Zealand Sotheby’s International Realty managing director Mark Harris said that the opening up of New Zealand’s borders would add to already strong buyer interest in Queenstown.
“With Australians finally getting back into New Zealand in the next few weeks, we’ve got a few big deals in the background,” he said.
“Some of them have started to look again at Europe and USA, but we have the proximity, and our price points are relatively good compared to Aspen.”
He said that interest from Aucklanders had also picked up. “They’re buying a second home base – it’s high end, not just a holiday home.”
- Additional reporting Gabrielle Nooijen
