Sold for $25.75m: An artist's impression of Forestlines Rise superhome, Waiora


A gated subdivision off Moke Lake Road with spectacular mountain and lake views is set to host Queenstown’s dearest homes.

Developer B Group has just sold off the plans a four-bedroom home at Forestlines Rise
for a resort-record $25.75 million.

With a distinctive green ‘living roof’, ‘Waiora’ is a generous 920 square metres, with  320sqm of decking, on a 13,590sqm section.

It has all the bells and whistles including two pools, a sauna and a wine cellar.

Next door, so to speak, B Group’s also developing a slightly-larger $30m-plus superhome, ‘Parore’, which is being sold in eight equal shares, in what’s known as fractional ownership — a common method overseas for selling luxury real estate.

Billed as ‘‘possibly New Zealand’s finest home’’, Parore includes four large suite-style
bedrooms, an infrared sauna, infinity pool, large home office, media room, eight-car  parking, ‘‘an incredible wine cellar’’ and ‘‘every imaginable feature’’ like smart home technology, a Tesla Powerwall and integrated solar power.

There’s also a big focus on wellness.

Auckland-based Ross Hawkins, a Ray White Black Group Realty agent who sold Waiora to an undisclosed buyer, is selling these one-eighth shares alongside Ray White Queenstown agent Bas Smith, who sold both Forestlines Rise plots to B Group originally.

Buyers pay $3.75m for a share of Parore, which entitles them to 45 days’ use a year.

Owners can also receive income from letting out the house for any of the 45 days they’re not using it.

Managing those stays will be Waimarino Lodge and villas, which B Group plans to build at nearby Bob’s Cove.

Hawkins says when selling Waiora he found a lot of people had the money to buy it, ‘‘but just wouldn’t use it for many weeks of the year’’ — hence the rationale for fractional ownership.

One-eighth shareholders also get access to an Audi electric SUV, wake/ski boat, the  option of a private chef and access to Waimarino’s guest-only restaurant and spa and wellness facilities and classes.

Smith adds: ‘‘People are actually getting into a home that’s worth $30m-plus for  $3.75m.

‘‘A lot of these homes are hugely expensive to upkeep, especially when they’re empty.

‘‘It tends to be really expensive to warm them up and cool them down, so if they’re  actually operating all the time, that’s a much more efficient way to run them, and actually stay ‘new’ as well.’’

Smith says Parore will suit corporate types, in particular.

‘‘A lot of these superhomes are designed these days for people to be able to come and
live with their families but also have a slightly-separate break out area [that might suit] a minor conference.’’

Beyond the designs and amenities of both homes, which are due for completion in 2024, Hawkins also points to their location in explaining their value — ‘‘high-quality building terraces’’ with panoramic views, total privacy and a sense of wilderness just eight minutes’ drive from central Queenstown.

A former Queenstowner who still owns property here, Hawkins has also sold down many of the Waimarino villas, and sold the main residence for $12.8m.

B Group managing director Andrew McIntosh also formerly lived in Queenstown, where he co-owned the Black Sheep Backpackers in Frankton Road.

His company’s also developing a 35-room boutique hotel in Wānaka, next to the town’s New World supermarket.