A luxury country home has fetched a record price for a Queenstown house.
White Shadows on the Malaghans Road/Hunter Rd corner has sold for more than $6.4 million – the record set for a Queenstown Hill mansion in 2009.
The exact sale price is confidential, however the property was on the market for $6,995,000.
American partners Bill Bailey and Mike Harris built White Shadows in 1999 and have run two guest suites as a boutique bed and breakfast for the past 13 summers.
The sale was brokered by Luxury Real Estate New Zealand, which listed White Shadows about 18 months ago.
Agency co-owner Terry Spice says that length of time isn’t uncommon for a premium property.
Spice confirms the undisclosed buyer is a Kiwi who will use the property as a full-time residence.
The selling points, he believes, were the uniqueness of the 3.7 hectare estate including its established grounds, privacy and uninterrupted Coronet Peak views as well as the well-appointed almost-700sq m home.
Bailey says he and Harris realised the sales process could take a while.
“We can’t help it that the economy is what it is at the same time we are turning an age where we want to retire.”
Planting out the property and making friends out of so many of their guests had been highlights.
“It pleases us no end, the aspect of taking what was part of [farmer] Ron Dagg’s sheep paddock and turning it into something that is just an absolute pleasant thing to live within or walk around,” Bailey says.
Ten couples who’ve stayed had since bought Queenstown property, he notes.
“Over the last four or five years, easily 65 per cent of our guests have been returning people.”
Bailey says he and Harris intend staying in Queenstown but in smaller digs.
“We just want to start travelling more, enjoying life more and doing the things our guests have done.”
Bailey’s delighted the property fetched a record price: “That’s great, I can’t complain about that.”