Magnates Sell ‘Stunning Piece of New Zealand’ for Bumper Price

A remote New Zealand farm has sold for more than NZ$30 million ($18 million), setting a record price for the South Island region of Queenstown that already boasts some of the nation’s most expensive real estate.

Halfway Bay Station, an 18,000-hectare (44,479-acre) property on the shores of Lake Wakatipu, was sold by New Zealand-born mining magnate Chris Ellison and Australian billionaire Tim Roberts, said Mark Harris, managing director of Sotheby’s International Realty New Zealand, which brokered the transaction.