Trophy’ land sale

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A 66.8 hectare Wakatipu farm marketed as a “Queenstown rural trophy” is expected to attract high net worth buyers. 

Directly adjoining Millbrook Resort, Dalgleish Farm – with 450 metres of road frontage to Malag­hans Road – has gone on the market after being farmed by Ian and Pip Macauley for more than 30 years. 

Local Colliers International agent Rory O’Donnell says the property, for sale by deadline private treaty, is in an “absolute prime location”. 

“We expect to receive interest from high net worth buyers from around the country and overseas who are looking for a trophy property,” he says. 

“Smaller lifestyle blocks are often put up for sale, but the size of this land holding and its unique features make it a special offering.” 

The property, in four separate titles, has a rateable value of about $5 million. 

On one title there’s an historic stone cottage thought to date back more than 130 years that was renovated and extended under the eye of local award-winning architect Michael Wyatt in the 1990s. The cottage is set in a rocky outcrop above the original wool­­shed and other farm improvements. 

O’Donnell’s colleague Mark Simpson adds: “The most likely buyers I think are going to be parties who will take advantage of the fact it’s exclusive property with privacy. 

“They will be conscious that it has future development potential but that’s not likely to be the primary driver.” 

Simpson suggests it will also attract interest from adjacent property owners and others who already understand the local market. Though there’s potential to subdivide the property into high-end lifestyle blocks, that’s subject to relevant consents being granted, the brokers say. 

Simpson: “We don’t know what something like this is worth and that’s why marketing it without a price will allow the market to determine its true value.” 

The deadline is May 30 unless sold prior.