- A luxury home on Lake Wakatipu sold for $18.88 million, Queenstown-Lakes' highest this year.
- The six-bedroom house in Homestead Bay Peaks was designed by architects Sumich Chaplin.
- Agent Sarah McBride highlighted the estate's premium location and demand for upper terrace plots.
A luxury home on the shores of Queenstown’s Lake Wakatipu has been quietly sold for nearly $19 million.
Start your property search
Agents have been tight-lipped about the sale of the six-bedroom property on Nathanael Place, in the gated Homestead Bay Peaks estate, in Drift Bay, but the October deal comes two years after builders finished on the site.
The $18.88m sale price is Queenstown-Lakes' highest so far this year and the ninth highest nationwide for 2025.
OneRoof understands that the 665sqm house was designed by top architects Sumich Chaplin, and that the vendor paid $3m in 2018 for the 1.54ha section it sits on.
The 665sqm house sold in October and can be seen in the background of listing photos for 6 Nathanael Place, in Drift Bay. Photo / Supplied
Homestead Bay Peaks is on the airport side of Queenstown, and closer to the Remarkables ski field and Jacks Point golf course than other developments. Photo / Supplied
Homestead Bay Peaks comprises 12 properties of between 1.2ha and 2.5ha. The largest section changed hands in April this year for $5m, but most of the plots have sold for around $3m.
Bayleys agent Sarah McBride, who is selling a 1.38ha section in the estate, said that a sale price of nearly $19m for a finished house fitted the location.
Her listing of 6 Nathanael Place comes with concept plans for a large house designed by top architecture firm Mason & Wales, which is also the master planner for the estate.
Discover more:
- Ex-Auckland mayor selling his Queenstown masterpiece for over $8m
- Overseas buyer snaps up vintage crib for $4m, plans to demolish it
- Tiny town where houses cost less than $200,000 and everyone is welcome
“The environment lends itself to a setting for Queenstown’s most premium homes,” she told OneRoof.
“It presents one of the most beautiful lake and mountain views, uninterrupted. It is quite a special place.”
She said Homestead Bay Peaks had the advantage over other high-end spots like Closeburn or Wyuna Preserve because it was on the airport side of Queenstown, closer to the Remarkables ski field and Jacks Point golf course.
Her vendors bought the section from the developer in 2019 for $2.5m, but were now relocating to Australia.
McBride said that she would be showing the property to a mixture of local, Australian and Singaporean buyers with budgets of over $3m.
The 1.38ha plot for sale at 6 Nathanael Place. Photo / Supplied
She said that the upper terrace plots were in demand because they offered better views of the Remarkables and were sheltered from the wind.
Homestead Bay Peaks was carved off farmland in 2016 by Auckland-based property management firm Viranda Partners. Company director Andrew Guest told OneRoof he had not been involved in the development since August 2021.
The gated community abuts the proposed 140ha Homestead Bay development, now on the Government’s fast-track priority list. Australian developers RCL Group plan a new suburb of 2800 homes, with schools, shops, parks and trails.
McBride noted those plans include a buffer zone so there will be no construction near Homestead Bay Peak.
New Zealand Sotheby’s International Realty agent Matt Finnigan, who has sold properties in the estate, told OneRoof that build costs can climb to over $25,000 per square metre for premium houses.
“The calibre is up there. You’re not just delivering Gib walls,” he said, adding that the location itself was stunning. “You have no road in front, and that’s a key thing in Queenstown.”
Finnigan said that Queenstown Lakes' high-end market had picked up in the last quarter of the year. “It feels right, it feels like there is good activity,” he said.
- Click here to find more properties for sale in Queenstown-Lakes
