After seven years on the market a large Central Otago high country station has finally sold.
Overlooking Lake Wanaka and Lake Hawea, Lake McKay Station was sold by Trevor Norman of PGG Wrightson Real Estate, Dunedin, who said selling it was a challenge.
“Although there is never any shortage of interest in such a unique property, finding a willing, realistic buyer can be more difficult. Lake McKay Station comprises 5270 hectares freehold along with 852 hectares crown lease, making it one of the region’s largest freehold stations. It first came to the market in 2016 and went through several international and local real estate agencies before the vendors engaged PGG Wrightson Real Estate in March 2020.
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“Through strategic marketing including targeting key buyers within the PGG Wrightson database, we identified realistic interest, receiving an offer on the property, followed by an unconditional backup offer. The backup offer, from a local farmer and investor, was the successful purchaser. Although settlement was delayed for several months pending approval by the Commissioner of Crown Lands of the transfer of the 852 hectares under crown lease, our vendor and purchaser were patient, and all parties are now delighted that the sale is finally settled,” he said.
Farming a mix of half-bred sheep and angus cattle, Lake McKay Station was offered to the market with a buyer’s guide above $20 million, plus GST.
Further information:
Trevor Norman, PGG Wrightson Real Estate
027 435 5433
- Sponsored by PGG Wrightson Real Estate
