A record $7 million has been paid for a central Queenstown three-unit luxury apartment complex.
The resort’s previous highest residential sale was $6.4m for a home at The Peaks on Queenstown Hill.
It’s understood the new owner of the five-level Q1 Apartments, opposite O’Regan’s Wharf on Queenstown Bay, is Australian-based petfood millionaire Tony Quinn, who developed Cromwell’s Highlands Motorsport Park.
It’s understood Luxury Real Estate New Zealand brokered the deal, but the company’s declined to comment.
Q1, with its distinctive curved-glass feature windows, was developed six years ago by former Queenstowners Mandy and Warren Law.