Wakatipu’s $25m wonder-home

World-class: This Wyuna Preserve home and neighbouring section is yours for $24,995,000

Another Wakatipu property has been listed with a stratospheric price-tag.

A super-home and adjacent bare lot on the highest ridge at Wyuna Preserve, near the top of Lake Wakatipu, is for sale for $24,995,000.

The five-bedroom home, completed in 2013, has more than 750 square metres of internal space, including an entertainer’s kitchen and master suite in its own wing.

There’s also more than 100sqm of exterior terraces and decking, a sauna, cantilevered spa pool and a unique grass amphitheatre.

It’s the third local home to be listed at this mind-boggling level in the past four months.

In November, a nearby luxury Wyuna home, again with an adjacent section, was listed for $33m.

And a super-home at The Peak, on the top of Queenstown Hill, is on the market at $23.5m.

All three have been listed with Arrowtown-based Luxury Real Estate New Zealand, designed by Dunedin’s Mason & Wales Architects and built by local-based Triple Star Management.

With this latest listing, Luxury Real Estate NZ director Terry Spice says the American family who built it while overseas have since relocated to the North Island but aren’t spending enough time down south.

He says a buyer could keep the adjacent site vacant for privacy, or build a guesthouse.

He’s in no doubt the asking price is realistic.

“Without the house you’ve got two blocks [totalling 6.6 hectares] in the high-$7m region, and then there is the build cost today.”

There’s also the three to three-and-a-half years of finding a site then going through the build process that a new owner saves on.

Aside from the expensive build, Spice also points to the value in the location and the stunning views.

“The natural beauty surr-ounding Wyuna Preserve is outstanding and thus is gaining a reputation as one of the best and most high-end gated comm-unities in NZ.”

Auckland realtor Graham Wall, when listing the property earlier, said it had “quite possibly the best view in the world”.

Spice adds that the vendor’s not trying to beat the new government’s proposed ban on foreigners buying NZ property, because of the unlikelihood of finding a new buyer in this timeframe.

A year ago, Spice is believed to have brokered the record local residential deal – the sale of a Closeburn Station home to Kiwi billionaire Graeme Hart for about $24m.