The Overseas Investment Office has approved the sale of a 1.9ha section at the Closeburn Station subdivision near Queenstown.
Closeburn has become a bolthole for the wealthy, particularly from overseas, as owners get a share in the 1200ha working high country farm and lake and mountain views.
The sale of ''lot 18'' for a confidential sum by Guenther Raedler, of Southern Sun Properties, to Australians Denis and Linda Mackenzie, was approved by the OIO on September 3.
The Mountain Scene reported last month the section had been sold for more than $2.5 million, which is thought to be a record for the rural subdivision.
The OIO's decision, released yesterday, said the Mackenzies planned to build a house on the site.
''As a result of the investment, the applicant will provide significant and ongoing support to regional efforts to control the spread of wilding pines,'' the decision said.
''Wilding pines threaten and replace native beech forests and tussock (among other things) in the Queenstown area, including Closeburn Station.''
The land was bought by the Mackenzie family trust's trustee, Lynden Investments Group Pty Ltd.
The decision said the transaction had satisfied the Overseas Investment Act criteria, in particular the ''substantial and identifiable benefit to New Zealand'' by ''consequential benefits''.
