On the market is one of five standout luxury residences in Queenstown’s Arthurs Point.

Canyon Ridge, at 83 Atley Rd, is on an elevated site with commanding views towards Ben Lomond, the Shotover River and Coronet Peak.

Following two sales, with the first buyer having recently moved in, ‘Residence Four’ is now on the market — via real estate agency Whitefox’s local office — with developer Shane Fairmaid targeting offers over $5 million.

Topped by four bedrooms and a media room, with the master taking up the full north-facing facade, the middle floor incorporates the indoor/outdoor living area.

There’s a 90 square metre deck with a distinctive sauna, spa and oversized schist-clad fireplace, including just over 30sq m of covered area with automatic louvre and blinds.

The basement has three-car garaging while all floors are connected with a three-stop lift.

A $95,000 Coco Republic furniture package is also for sale.

The residence also includes a two-bedroom apartment with its own private access and garage, which can provide an income stream.

Queenstown Carpenters has built the first three residences while Brownie Construction has just started building the other two.

Fairmaid says there has been a lot of interest in Residence Four.

“I don’t really see the product hanging around for too long.

“I mean, it has broad appeal, including to the international market.”

Befitting a rocky site, “it just lends itself to doing a lot of stone walls — we’re about halfway through”.

“And I think it just adds so much value to the finished product.”

scoop@scene.co.nz