A mind-boggling asking price for a Glenorchy property is believed to be a New Zealand record for residential real estate.

The property, at the exclusive Wyuna Preserve rural-residential subdivision, is listed at $33 million.

The property comprises a large mountain lodge-style holiday home and section and a neighbouring parcel, which together total more than 5.7ha.

Forty minutes' drive from Queenstown, it overlooks Lake Wakatipu and also has outstanding mountain views.

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Arrowtown-based Luxury Real Estate New Zealand put it on the market last week.

The firm's co-director, Terry Spice, is understood to have brokered the sale of a Closeburn Station home to Kiwi billionaire Graeme Hart this year, for a Queenstown-record price of about $24 million.

Spice would not reveal his Wyuna Preserve clients or say where they are from, beyond confirming they live overseas.

He said they were selling because of "lack of use''.

''They're building a large home in their country of residence and they just won't be coming over as much.

''They still have an affinity with Queenstown and will retain property here.''

Spice said there was no suggestion they were trying to beat the Government's imminent ban on foreigners buying New Zealand houses.

''It's coincidence that that has come about. I've been in discussions with the owners for several months.''

The property is believed to be a New Zealand record ''listing'', although former Hanover Group director Mark Hotchin's Auckland home sold for $39 million in 2013.

The Coatesville mansion, nearly Auckland, famously rented by internet mogul Kim Dotcom also sold last year for $32.5m.

Completed in 2013, the Glenorchy property is an 1100sqm, two-level house built over 22 months by Queenstown-based Triple Star Management and designed by Dunedin's Mason & Wales Architects.

The upper level comprises four luxury suites with walk-in wardrobes and en suites, a home office and generous living and dining areas.

The upper level comprises four luxury suites with walk-in wardrobes and ensuites, a home office and generous living and dining areas.
The upper level comprises four luxury suites with walk-in wardrobes and ensuites, a home office and generous living and dining areas.
The upper level comprises four luxury suites with walk-in wardrobes and ensuites, a home office and generous living and dining areas.
The upper level comprises four luxury suites with walk-in wardrobes and ensuites, a home office and generous living and dining areas.

The lower level, below ground, includes a five-bay garage, bar and games room, home theatre, wine cellar and sauna and massage room, with natural light filtering from a suspended stair lantern.

Schist excavated from the site was also used in construction, as was solid oak and cedar for internal wall linings and hardwood for posts and beams.

''It's some of the highest square-metre price per build I've seen,'' Spice said.

A significant amount of costly technology has also been employed, and the house is equipped to remain off-grid if required.

Wyuna Preserve is one of three gated enclaves - the others are Closeburn Station and The Peak, on the top of Queenstown Hill - commanding ever-higher prices.

They offer privacy, outstanding views and also, in the case of the first two, recreational opportunities in the surrounding countryside.

Wyuna Preserve owners also own a share of a communal clubhouse.

Spice, whose firm yesterday listed a Closeburn Station property for $12.5m, said Queenstown also appealed as a safe haven in an ever-changing world.

- Mountain Scene