Sotheby’s International Realty agent Justine Burke said the property at 485 Tarras-Cromwell Rd (State Highway 8) had been in the same family since 1995 and a total renovation was completed in 2023.
Fellow agent Ben Terry said he expected the property to break the sales record for Cromwell of $4,350,000.
Interest was gathering from all around New Zealand and Australia.
While many waterfront properties could be problematic for overseas buyers as they were classified as sensitive land, the way Lake Dunstan was created meant that hurdle did not apply to this property.
It was likely the property would be purchased for another long-term tenure, Mr Terry said.
"The potential buyer would likely consider this a legacy home and hold it for the kids and the grandkids and potentially pass that down through generations as well."
Its private lake frontage made the property a once-in-a-lifetime opportunity and an agent’s dream, he said.
Covering 444sq m on the 4213sq m section, the house offered something for everyone in the family and lent itself to multi-generational use, he said.
An open-plan kitchen and living room was the hub with a media room, space for a gym, a lake-view spa and several decks giving spaces to lounge in the sun all day long.
A two-bedroom unit under the house had its own kitchen, allowing self-contained living for extended family or paying guests.
The deadline sale for the property closes on December 8.
