Once crowned one of New Zealand's best homes, this lakefront estate is for sale — and it won't come cheap

Monday, 22 June 2026

A five-bedroom lakefront estate in Drift Bay near Queenstown has been listed for sale with uninterrupted views across Lake Wakatipu.

Estate agent Hamish Walker describes the waterfront property as one of the best trophy homes in New Zealand.

John Gavin Construction built the home, which won House of the Year at the 2014 Southern Region Registered Master Builders Awards.

A sprawling lakefront estate in one of New Zealand's most sought-after property markets has come up for sale.

The five-bedroom home in Drift Bay, near Queenstown, spans almost 900m² and enjoys uninterrupted views across Lake Wakatipu. Amenities include a seven-seat cinema, gym, steam room and swimming pool.

The home is in an exclusive gated community.

Set on a flat 4357m² section within an exclusive gated community of just a few dozen homes, the property is being marketed as one of the region's standout waterfront offerings.

The views out to the lake and mountains.

Estate agent Hamish Walker says opportunities like this rarely come to market.

It was built by John Gavin Construction.

'There are very few waterfront trophy properties like this, and this has to be one of the best, not only in Queenstown, but in New Zealand,' says Walker.

'It's one of the most significant waterfront properties to come to market in recent years.'

There’s a pool alongside a gym and steam room.

Walker recalls being struck by both the scale of the home and its setting when he first visited.

'I couldn't quite believe what I was seeing as I drove down and the house came into view. It was almost perfectly framed, with the lake, Cecil Peak and the surrounding mountain ranges behind it.'

The uninterrupted panoramic views from the main living areas were a particular highlight.

Built by John Gavin Construction, the home was named House of the Year at the 2014 Southern Region Registered Master Builders Awards.

The home is set on a flat 4357m² section within an exclusive gated community.

At the time, judges described the project as a complex undertaking.

'Coupled with a difficult site and testing climatic factors, this home posed its fair share of challenges,' they said.

'With well-crafted exterior timberwork and immaculate stonework, the materials blended seamlessly with one another and the landscape. The detailing is extraordinary — visually simple but complex in its solutions. This is a build of international presence by a builder who clearly takes pleasure in his work.'

Walker believes the eventual buyer is likely to come from offshore.

'The interest has mainly come from overseas, with most buyers seeing it around the $20 million mark.'

The listing comes amid growing interest in homes in and around Queenstown since the government across the Tasman proposed changes to its capital gains tax in May.

Walker says he has already seen a 30% increase in inquiries over the past month from Australian buyers with budgets north of $3m.

10 Bluff View Terrace will be sold by deadline of 27 July. It is listed with Hamish Walker at Walker & Co Realty.

Readers are advised to do their own due diligence when considering buying a home. A first point of reference could be government website settled.govt.nz, or our email course, the First-time Buyers Club.