Overlooked by towering mountains like Mt Earnslaw, it’s featured in almost 20 movies and is used for about 10 TV commercial shoots a year.
Sir Ian McKellen, who starred as Gandalf in one of those movies, The Lord of the Rings, calls it his favourite place on earth.
In the past, owner Jim Veint, who’s farmed the rolling flats for 59 years, has tried to sell a 46ha portion below the road, including striking 11-bedroom Arcadia Homestead, which was built by wealthy Englishman Joseph Fenn in 1906.
This parcel enjoys a valuable rural visitor zoning – the same zoning as Queenstown’s Walter Peak and part of Arthurs Point, as well as exclusive Blanket Bay lodge, near Glenorchy.
Veint’s had interest from some global heavy-hitters, but each time they’ve wanted to buy not only this parcel, but the balance of the farm, which was never for sale.
Now, however, Jim and his wife Ros have reached an age where they want to sell the whole farm and move to Glenorchy.
Under the proposed district plan, about 21ha of the rural visitor zoned-land has significant development potential.
Near Arcadia Homestead, for example, are 12 residential building platforms which are consented but as yet untitled.
There are also four large residential lifestyle sections above the road that are titled, but work’s needed before their building platforms can be registered.
valuation is $9,210,000, though its market value’s thought to be considerably higher, based on previous offers for the rural visitor-zoned portion.
It’s for sale by negotiation, and is being marketed by Ray White Queenstown owner/agent Bas Smith. He says that “many, many famous people have been deeply affected by the sheer magic and wonder of this place”.
“We expect interest from high-net-worth individuals from New Zealand and across the globe who may just want to own such an iconic property.
“But we’ve also had discussions with corporate entities who understand the huge potential to create a masterplanned tourism venture which provides a range of experiences and accom-modation alongside a working farm in one of the most beautiful settings anywhere on earth.”
The website for the landmark property sale, which went live this week, is www.arcadiastation.co.nz.
Otago Daily Times – Phillip Chandler
4th Novermber 2019