The 1038 square metre section — at 18 Toni’s Terrace — is not only one of the last available lots in the 800-plus-section subdivision, but also one of the largest.
"The average section is probably somewhere in the range of 400 to 500sqm, so this is twice that," O’Hagan says.
However, he points out the property also has many other attributes.
It’s flat and also elevated, which enhances the views, he says, while its north-south axis means a home can enjoy good sun, too.
He notes an adjacent walkway down to the next terrace, linking Toni’s Terrace with Foxwell Way, also provides good separation between houses.
"I’ve lived in Shotover Country, and having that extra separation between the houses is really valuable.
"It allows more sunlight, more views and [the walkway] doesn’t impact the privacy because it’s sloping down."
Vendor Mana Kono, who’s originally from Japan, moved to Queenstown in 2010 and, according to property records, bought the section for $279,000 in 2015.
She explains she bought it for one of her sons to build on, but circumstances had since changed.
O’Hagan says he’s had strong interest in the listing. "It’s coming predominantly from the local market, but there’s also been some interest from outside Queenstown and even as far afield as Australia, and I think that speaks to the fact people understand it’s quite a rare thing."
Feedback on the likely sales price has been in the high $600,000s to mid-$700,000s range, he says, "and we think that’s a fair reflection of where people are seeing value, particularly in the context of what has been already established within Shotover Country as well as obviously the wider Queenstown market".
The auction date’s May 15.
O’Hagan says the vendor’s open to considering a 5% rather than 10% deposit at the fall of the hammer, and extending settlement to up to 90 days.
