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One of the oldest buildings in Queenstown has been sold at auction for $1 million.
''The Stable'', at 17 Brisbane St, was fought over by three bidders before an audience of 40 neighbours, friends of the owners and interested buyers, including one from Australia, on Saturday.
They gathered on the grounds of the property, which incorporates a 140-year-old stable.
Auctioneer Warwick Grimmer called ''sold'' on a bid from a family from Wellington who plan to make the property their home.
Bed and breakfast operators Gordon and Isobel McIntyre have owned and lived in The Stable since the 1980s. They intend to move to Christchurch to be nearer family.
The stone and concrete category 2 historic place was built in the 1870s and first used as a utility building, then a horse stable.
The central part of the plaster and schist house was built by the Government in the 1950s and was incorporated with the stable by Queenstown architect Michael Wyatt in a major renovation and extension in 1989-90.
New Zealand Sothebys International Realty agent Colleen Murfin said yesterday there had been much interest in the property.
''The outcome was extremely pleasing and shows the respect this very desirable street can command.''