The 1,038-square-foot portion – at 18 Toni's Terrace – is not only one of the last available lots in the more than 800-section subdivision, but also one of the largest.
“The average section is probably somewhere between 400 and 500 square meters, so this is double that,” says O'Hagan.
However, he points out that the building also has many other features.
It is flat and also elevated, which improves the view, he says, while the north-south axis also allows a house to enjoy the sun.
He notes that an adjacent walkway leads to the next terrace, which links Toni's Terrace to Foxwell Way and also provides good separation between the houses.
“I've lived in Shotover Country and that extra separation between houses is very valuable.
“It provides more sunlight, more views and… [the walkway] does not affect privacy because it is sloped.”
To do justice to the property, O'Hagan believes a home of at least 250 sq m is needed, whether it is a family home or a house plus an income-producing flat.
Seller Mana Kono, who is originally from Japan, moved to Queenstown in 2010 and bought the section in 2015 for $279,000, according to property records.
She explains that she bought it for one of her sons to build on, but circumstances have changed since then.
O'Hagan says he is very interested in the listing. “It's mainly coming from the local market, but there's also some interest from outside Queenstown and even as far away as Australia. I think that shows that people understand it's quite rare.”
Feedback on the likely sales price is in the mid-$600,000s to mid-$700,000s, he says, “and we think that's a good reflection of where people see value, particularly in the context of what's already been established within Shotover Land and obviously the wider market of Queenstown”.
The auction date is May 15.
O'Hagan says the seller is willing to consider a 5% down payment instead of 10% at the fall of the hammer, and extend settlement to up to 90 days.