Low, vast sprawling, filled with statement fireplaces, earthy neutral tones, highly glazed to the north for maximum sun, hunkered down on its alpine site, perched above Lake Wakatipu - this is the home said to be a billionaire's holiday pad just outside Queenstown.

New Zealand's richest man, Graeme Hart, was yesterday reported as paying around $24 million for the house, built by local luxury specialists Triple Star on the lakefront and sporting seven chimneys across a vast expanse of roof.

Images on the website of architects Sumich Chaplin give a glimpse of the drama and luxury offered at the house.

An exterior image has now been released of the residence, reportedly bought by Hart as a holiday home, within an easy drive of Queenstown and across the lake from Walter Peak Station which thousands of tourists visit annually on the TSS Earnslaw.

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"Mountain Scene understands Graeme Hart, this week said to be worth $13.5 billion by Forbes Magazine, has bought a massive six-bedroom home at exclusive Closeburn Station, 11km from Queenstown," that publication said.

"However, it also reported that Hart, through his Rank Group PA, says he doesn't want to comment."

The house off the Glenorchy-Queenstown Rd is a huge 746sq m and comes with a 144sq m day spa and 91sq m implements shed. Its grounds are extensively planted in alpine species, with schist stone garden walls, white paths, extensive outdoor dining areas and manicured lawns. Skylights bathe interiors in light.

Billionaire Graeme Hart has been reported as having bought a house near Queenstown.
Billionaire Graeme Hart has been reported as having bought a house near Queenstown.

The property is entered via a formal curved, hedged driveway, flanked by alpine grasses, trees and grid-pattern paving.

Interior colours are in earthy tones to blend with the landscape. Floors are wood and views stretch across the lake to the mountains around Cecil Peak.

Circular, tiered light shades hang from the rafters of the open plan kitchen/living/dining area and local rock is used extensively throughout.

Triple Star completed the 12-month build in December 2015 and it was designed by Auckland architect Lawrence Sumich.

Closeburn map here:

Arrowtown-based Luxury Real Estate NZ agent Terry Spice was reported as having brokered the sale.

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The real estate agency marketing Closeburn says it has 1.1-hectare lots which have 360-degree lake and mountain views, "drenched in long hours of sunshine and adjoined by native beech forest.

"Few places in the world would come close to this private outdoor paradise," Luxury Real Estate said. "Investing in a property at Closeburn comes with 1/27th share in the ownership of the 3000-acre [1214ha] working high country sheep and cattle station.

"Endless outdoor facilities include a first class equestrian centre, stables and extensive private horse trails."