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A United States couple are behind the purchase of one of the largest landholdings on Queenstown Hill.
The couple, who have New Zealand residency, have bought three neighbouring sections, worth an estimated total of $10.2 million on Galway Court, a cul-de-sac high on Queenstown Hill.
The combined area of 3094sq m made it one of the largest single-home landholdings available in the area and the buyers were progressing with a design for a ‘‘masterpiece’’ home, Bayleys real estate agent John McColl said.
“They’re very happy with their purchase and pretty excited to get on with the build.”
The three sloping sites — two bare and one with an existing home — all have sweeping views.
They were secured despite having three different owners and none being for sale, Mr McColl said.
He said he and a colleague hand-picked three suitable existing homes and presented their owners with offers “well above market value”.
However, all three offers were turned down, so rather than compromise on the brief, the pair pivoted towards securing neighbouring sites with enough combined area for their clients to design and build a home from the ground up.
Mr McColl said the deal underlined the growing appetite among offshore buyers with New Z residency for premium real estate in the resort, and the lengths required to secure it in a tightly held market.
Although the deal was an unusual one, he expected such scenarios to occur more often.
“With the inquiries we’re getting from offshore now, I think it’ll become more common.”
According to property website OneRoof, 9 Galway Court sold for $5.5m in June this year. QV has valued 8 Galway Court at $2.45m and 10 Galway Court at $2.25m. — Additional reporting Allied Media
