Luxury Queenstown home sells for $7m

Luxury Real Estate has brokered the sale of a property at a price approaching $7m.

Terry Spice and Nick Horton of Luxury Real Estate have just sold Queenstown’s highest-valued residential property.

In fact, it’s a such a ripper the actual price and identity of the buyer has to remain secret - that is, until the land sale is registered, when we’ll report it.

The agents were naturally keen to let everyone know.

But Mr Spice was coy about giving us the actual figure.

The asking price was $6.9m.

He acknowledged it was higher than the last highest price recorded for a residential property in the area at $6.4m.

The property is called White Shadows Country Inn, nestled at the base of Coronet Peak at 56 Hunter Rd on the corner with Malaghans Rd.

The land was acquired by US pair Mike Harris and Bill Bailey in 1999 and a price of $5.3m for the land and buildings is recorded on Terranet records in 2003.

They operated it as a luxury bed and breakfast, often catering to overseas anglers.

The new owner, who is a New Zealander, intends to use it has a family home.