- A Queenstown-Lakes home sold for well over $11m after a 20-minute virtual tour by Hamish Walker.
- The property in Stonebridge Estate features three ensuite bedrooms and was designed by Hancock + Hancock.
- Walker noted increased activity in the upper market, with well-presented properties moving quickly.
A trophy home in Queenstown-Lakes sold for well over $11 million last month after the overseas buyer took a 20-minute virtual walk-through with the listing agent in between meetings.
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Hamish Walker, of Walker & Co, told OneRoof that he used the Facetime app on his phone to show the buyer around the three-bedroom lodge on Domain Road, in Speargrass Flat.
“And then we talked him into buying it. That is $562,000 per minute,” Walker joked.
“For these types of buyers, time is of the essence. You literally only have minutes to try and get them onto the property, or they walk away very quickly.
The house on Domain Road, in Speargrass Flat, is in a gated estate. Photo / Supplied
The property has huge living areas with mountain views. Photo / Supplied
“In this sale, it was more of a case of giving them confidence in the property, that it was worth what we were asking,” he said, adding that the buyer’s team then took over negotiating the deal, which took a little longer. “They’ve got people for that.”
Walker said he believed the buyer had visited Queenstown a few times but would not see their new property until the deal settled early next year.
The house in the gated Stonebridge Estate hit the market in August with an RV of $8.95m and an asking price of $11.495m. “The buyers had seen it early on, but thought about it for a month or so,” Walker told OneRoof.
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“They hadn’t been actively hunting in New Zealand, but then this one popped up.”
Walker called Stonebridge Estate "one of Queenstown’s most desirable and tightly held" addresses. Most of the residents there are based overseas.
The 20-year-old home Walker sold last month sits on a 5314sqm site and is a classic cedar-and-schist build with mountain views. It was designed by Hancock + Hancock and built by RBJ Limited.
Another home in Stonebridge Estate is up for grabs. Photo / Supplied
It boasts a double-height living space, integrated tech systems and three ensuite bedrooms, as well as garaging and two laundries. The agent called the property’s landscaping, which includes a pond and tree-lined driveway, “park-like”.
Another luxury property in Stonebridge Estate is for sale by negotiation with Bayleys agents Sarah McBride and Sarena Glass.
The five-bedroom home at 3/188 Domain Road has an RV of $6.29m, sits on a 4515sqm, and includes a scullery, media room and a separate two-bedroom guest wing for visitors.
Walker said the upper end of the market in Queenstown-Lakes had picked up in recent months. In October, he sold a four-bedroom home on Cotter Avenue, in Arrowtown, for more than its $5m RV.
A four-bedroom home on Cotter Avenue, Arrowtown, sold for over $5m at the end of October. Photo / Supplied
“It is a prime location in Arrowtown overlooking The Hills golf course. It is one of the premium addresses in Arrowtown,” he said.
“In that $4-$5m price bracket, I think there is a real fear of missing out. Well-presented quality stock is moving.
“But property that is slightly over-priced from the start or close to a road or doesn’t have the best sun or presentation, you cannot get away with second best. It is all about location and quality builds.”
At the lower end of the scale, under $2m, Walker said things could be “chaotic”. A run-down A-frame crib on Adamson Drive that sold under the hammer last week attracted eight bidders.
After 14 bids, the hammer came down at $1.79m, with the property selling to a local who plans to redevelop the 670sqm site with two new townhouses.
“That is crazy money. Five of the bidders who missed out are desperate to find another do-up or new build, as these old baches are being knocked down and replaced,” Walker said.
“Nearly $2m for a small piece of land; it shows you how in-demand Arrowtown is.”
- Click here to see more properties for sale in Queenstown-Lakes
