40ha Remarkables site listed for sale

The Remarkables. Photo / 123RF

A site on the flanks of the Remarkables has been listed for sale - for less than $2million.

The 40ha freehold section - with resource consent pending for the 1000sq m building platform - sits on the western side of the Remarkables.

Realtor Nick Gregory said the section, dubbed Arowhenua - was one of three which had once been Department of Conservation (Doc) land, before it was approved for subdivision about 17 years ago.

One of the other sites, "Pokapu'', was home to a "$10 million mansion''.

Gregory said the owner of Arowhenua was "pretty motivated'' to sell.

"It's an offshore vendor; he's basically liquidating all his investments in Queenstown and moving it offshore.''

The land was listed for sale on Wednesday and Mr Gregory expected international and domestic interest.

The site's annual Queenstown Lakes District Council rates are about $1695 and its rateable value is $1.65million.

However, Gregory expects the land will sell for "north of that''; one website has advertised the sale price as $1.85million.

Building consent was required for the rural lifestyle-zoned site, which included Doc protective covenants, but resource consent was "in progress''.