One of the last substantial landholdings in the Whakatipu Basin, held by the same family for more than 90 years, presents purchasers with an opportunity to own an extensive piece of iconic Kiwi landscape in one of the country’s fastest-growing regions.
Set over 213ha (more or less), Doonholme Estate at 122 Morven Ferry Road is in a prime position just eight minutes from Arrowtown and 15 minutes from central Queenstown at Arrow Junction.
Bayleys Queenstown sales manager, Steve Rendall, says the extraordinary property boasts immense scale, with 360-degree views of the basin, and is offered to the market at a time of high growth for the Queenstown-Southern Lakes region.
“It is one of the last and largest remaining land parcels in the Whakatipu area, comprising seven titles with mixed zoning provisions that extend from the rolling hillside above Lake Hayes to the banks of the trout-flush Kawarau River.
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“Easily accessible to international resort destinations Arrowtown, Queenstown, Wanaka and Cromwell, the property presents investors with a swathe of potential use options including tourism and commercial operations, lifestyle farming, or to keep as a trophy legacy property,” he says.
The opportunity is expected to attract international interest as New Zealand’s tourism numbers continue to rebound following the global pandemic – evidenced by tourist arrivals from the United States effectively doubling each month since September 2022.
“Renewed visitation, in addition to strong permanent residence arrivals as New Zealand continues to incentivise an Antipodean move for skilled migrant workers, lends support to local economic growth, making the region a more attractive location for investment.”
Rendall is marketing the estate for sale with Bayleys colleagues Richard Newman, John Bayley and Nick Newman.
The property is offered for sale by international tender closing at 4pm on Friday, 31 March 2023.
Approximate title specifications are:
CT492534: 8.5980ha
CT857180: 2.0584ha, including an approved building platform, currently vacant.
CT946021: 82.6923ha, including an easement accommodating part of the Queenstown ‘Twin Rivers’ Trail network.
CT946040: 45.1025ha, including an easement accommodating part of the Queenstown ‘Twin Rivers’ Trail network.
CT857181: 25.2111ha, including an existing homestead and several accessory buildings which support the operation of the working estate.
CTOT7D/1456: 26.5069ha
CTOT406/118: 23.0823ha
Newman says the sheer size and easy accessibility of Doonholme Estate present several use options that will appeal, in particular, to Ultra High-Net Worth individuals seeking a one-of-a-kind legacy property with substantial upside.
New Zealand’s population of UHNW individuals – those with a net worth exceeding USD$30 million – is expected to more than treble from 1,249 to 4,618, according to Wealth Report 2022 data by Bayleys’ partner, global property consultancy Knight Frank.
“Queenstown is the jewel in New Zealand’s tourism crown, famed for outdoor pursuits, adventure, natural beauty and a fabulous local food and hospitality scene. It is an exceptional place to raise a family, being safe and private whilst retaining urban connections and easy access to Queenstown’s International Airport and highway links.
“The city has evolved from a quaint gold-mining town to a world-class destination for tourism, investment and private wealth, evidenced by an abundance of luxurious resorts, five world-class golf courses near Doonholme Estate, and a strong pipeline of planned local investment, including the $1 billion Lakeview/Taumata residential, retail and hospitality precinct on the edge of the CBD.”
Newman says the new Lakeview/Taumata precinct will transform urban Queenstown, with upside benefits for local landowners, which may seek to partially subdivide or develop nearby land parcels to capitalise on high-growth fundamentals in the future.
“We expect prospective purchasers will be attracted to this extraordinary property for its unique and beautiful landscape features, in addition to Queenstown’s growing international profile as a stable investment hub for private individuals and institutional investors,” he says.
The property has played a starring role in several books written by local farming, shearing and gold-mining personality Alan ‘Hammy’ Hamilton, who oversaw the evolution of the land from a working dairy farm in the 1930s to a successful sheep husbandry operation and deer farming as it was introduced to the area in the 1970s.
The family have since utilised the estate as the grounds for the Moonlight Stables horse-trekking experience, in addition to a function and conference venue.
- Article supplied by Bayleys
