PHOTO: SUPPLIED – The Walter Peak land bought by Tim Roberts.

The price paid by one of Australia’s wealthiest men for a lakefront property near Queenstown has been revealed by the Overseas Investment Office as $14.85 million.

Tim Roberts bought 39 hectares at Walter Peak Station in late 2017 but the price was kept secret.

At the time, locals estimated he would have picked up the site for less than $10m.

Because Roberts told the OIO he intended to obtain residency and live here permanently he wasn’t required to show the investment would benefit New Zealand.

 

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