Lake Hayes near Queenstown where the property sold. Photo/Brett Phibbs
Lake Hayes near Queenstown where the property sold. Photo/Brett Phibbs
A property on the shores of the picturesque Lake Hayes near Queenstown sold for $7.1m which made it this year's most expensive residential South Island sale, according to a property analytics business.
Nick Goodall, CoreLogic's Wellington-based head of research, said the property at 89 Arrowtown-Lake Hayes Rd fetched $7.1m, yetit was only valued at $4.4m.
All the top New Zealand residential sales of the year were in Auckland, Goodall said, and it took him some time before he even reached the southern transaction, he said.
"I had to scroll down to about 20th to get a house from elsewhere in the country and yes it's in Queenstown," Goodall said of the Lake Hayes deal.
The property, which is less than a quarter of an acre, fronts the small lake in the Wakatipu Basin.
QV details showed a site of just 809sq m. The house there was built in 2015 and is a four-bedroom home with four bathrooms, QV showed. It was sold on August 28 and lists Maryanne Owens and Mark Andrew Owens as the owners.
The transfer of title into their names occurred on September 14, QV shows. Vendors were Stone Family Trustee (2007), John Francis Stone and Sally Louise Stone.
Queenstown Lakes District Council information shows the Owens' postal address is in care of the Hugh Green Family Trust, 259 Beacon Point Rd, Wanaka. Annual rates for 89 Arrowtown-Lake Hayes Rd are $5746.48.
In 2014, the Herald reported how Maryanne Owens - the daughter of late millionaire philanthropist Hugh Green - had launched legal action against other family members. It said she is the eldest daughter and she had instigated the proceedings.
The Green family were estimated to be worth $400 million in the 2014 NBR Rich List. This year's list put them at $550m.
Maryanne Owens, daughter of Hugh Green who died in 2012. Photo/Doug Sherring
The $7.1m sale is a far cry from the most expensive property listed in the area. Terry Spice of Luxury Real Estate is asking $33m for a spectacular Glenorchy home.
This property at the exclusive Wyuna Preserve rural-residential subdivision in Glenorchy, is listed for $33 million.
Twin Peak View is being marketed as "an architectural masterpiece designed by Mason and Wales Architects, the oldest architectural practice in New Zealand. Using their vast experience and understanding of the area they have combined the latest technologies with the highest level of design. Engineered to the highest levels of specification for structure the project was skilfully delivered by one of the countries most respected construction companies, Triple Star Management."
This O'Neills Ave sale in 2017 set the national record for the year.
This year's most expensive New Zealand residence was 19 O'Neills Ave, Takapuna on the North Shore which records show went mid-winter for $29m. Mark Steward, the businessman with strong Christchurch links, sold the twin-home waterfront mansion built by Craig Heatley to Lichun Gao, sold director and shareholder of Far East NZ.
The Paritai Dr sale for $39m set a national record. Photo/Brett Phibbs
The most expensive New Zealand residential property went for $39m when in 2013, interests associated with Mark Hotchin sold a Paritai Dr home to Deyi Shi via agent Graham Wall.
Trade Me Property lists the most expensive properties for sale in the Queenstown area:
