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Expensive view: A site at Jack's Point's The Preserve that recently sold for $4.25m

By PHILIP CHANDLER

A record $4.25 million’s been paid for a pad at The Preserve at Queenstown’s Jack’s Point.

Just short of two hectares, the site directly overlooks Lake Whakatipu, borders Jack’s Point’s golf course and is close to a heli-pad.

It’s been regarded as one of the best of The Preserve’s 36 lots.

The vendor, a Uruguay-based American, paid $1.7m in 2014.

Ray White Queenstown principal Bas Smith, who brokered the sale, says the new owner’s a high-net-worth individual from Sydney who’s familiar with Queenstown and has engaged Dunedin architects Mason & Wales to design a home.

Meanwhile, a section in gated Closeburn Station — touted as one of the finest sites in Queenstown, if not New Zealand — sold recently for $3,476,000.

Local NZ Sotheby’s International Realty agent Matt Finnigan, who listed the property with colleague Russell Reddell, says ‘‘we have recently concluded several high-end residential transactions in Queenstown which would be considered market-leading’’.

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