Another Gold Coast petrol-head multi-millionaire is buying up in Queenstown.
Scott Taylor has followed in the tread marks of Highlands Motorsport Park owner Tony Quinn and snapped up property over here.
Taylor made his money building Australia’s largest vehicle leasing and fleet management company, while Quinn recently sold his pet food empire for $A400 million.
But Taylor’s buying land from someone who’s likely richer than both of them.
He’s purchased $730,000 of land at uber-exclusive Kingston Road settlement Lakeside Estate from Lynette Erceg, widow of liquor baron Michael Erceg.
Taylor’s application to the Overseas Investment Office says he intends to build a holiday home for himself and his partner Rebecca Nelson.
They visit New Zealand up to a dozen times a year.
The 52-year-old racer has been over 14 times for motorsports events since setting up Scott Taylor Motorsports (STM) in 2014.
“STM comprises various race vehicles, two purpose-built trucks and a headquarters due for completion in 2015,” the OIO application reads.
“The company represents the applicants’ dream and commitment to motorsports and their desire to support upcoming young drivers participate in race events throughout Australia and New Zealand.”
Chief among those race vehicles is a brand new Mercedes-Benz AMG GT3.
Taylor races the jaw-dropping motor in the Australian GT championships with experienced Kiwi co-driver Craig Baird.
Quinn, who’s understood to have splashed out $7m on Q1 apartments on Lake Esplanade last year, runs a McLaren 650S GT3 in the same championships, with son Klark Quinn.
They finished fifth in the first round last week, while Taylor/Baird were twelfth.
Taylor’s land comprises a section of about half-a-hectare and a 39th share of access land.
The Overseas Investment Office had to assess the deal as the access land borders conservation land.
It approved the sale as a benefit to NZ due to creation of jobs, consequential benefits and previous investments.
Taylor’s also made undisclosed donations to both Wakatipu LandSAR and Wakatipu Wilding Conifer Control Group Inc.
The Erceg family is fourth in the National Business Review’s 2015 Rich List with an estimated fortune of $1.6 billion.
Michael Erceg died in a helicopter crash in 2005 leaving an estimated fortune of $620m.