The Kawarau River Station has been added to the Porter Group's extensive Queenstown property portfolio, after being snapped up for $8,050,000 at a mortgagee auction yesterday.
The historic freehold high-country station straddles 14km of riverfront land on the flanks of the Remarkables mountain range's northern tip, forming an 1826 hectare spread.
It hit the market for only the second time in its history last year. The mortgagee auction was on behalf of the station's second mortgagee, Aston Investments Ltd.
Queenstown Farm Ltd was named as the buyer, and is associated with the Porter Group, well-known developers of Queenstown's Remarkables Park and Shotover Park.
- The Southland Times
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