Arrowtown-based Luxury Real Estate New Zealand director Terry Spice, who's listed the property, says: "From a quality and location perspective it easily surpasses anything that I've seen in the centre of Queenstown.
"I think the scale of the property, externally and internally, is as good as I've seen.
"Mason & Wales Architects has done a phenomenal job along with a premium quality build from Triple Star Management."
Spice says the property "ticks all the boxes that you expect from a property of this level – a cinema, a wine cellar, your quadruple-plus garage and that fireplace upstairs".
"You feel like a bit of a prince on that property."
He says the replacement cost, including land and build, would be in excess of $20m.
He won't divulge the owner's identity but their address is in Queensland, Australia, according to the council's rating information.
"The reason for selling is the family are doing another project," Spice says.
The top floor, a steel and glass pavilion with large eaves, has the master suite with, of course, sensational lake and mountain views.
The ensuite includes a stand-alone rain shower and bathtub, while there's a private balcony with outdoor seating and a yoga platform.
The view from the lounge.
The main living area extends out into an al fresco area with a large sunken firepit, spa and outdoor kitchen.
The floor below contains three ensuited bedrooms, large rumpus room, laundry and self-contained suite.
The basement floor, connected to the upper floors by both a cantilevered staircase and a lift, has an amazing six-car garage with art on the walls, wine cellar, bar and home theatre.
The property, called 'Stelvio', after a mountain pass in northern Italy, is also let out to short-term visitors, through Queenstown's Touch of Spice, for $21,000 a night.
According to Trendsideas.com, Males & Wales Dunedin architect Francis Whitaker says when he saw the site he thought it was too steep to build on.
His solution was to design a long narrow form, one room wide, then partially submerge it into the hillside.
Peter Campbell, from Queenstown's Triple Star Management, adds: "We excavated a long, 15m-deep cut into solid rock, then inserted 150 rock anchors 14m into the exposed rock.
"From here, we poured a huge concrete slab and two significant concrete chimneys that, with other elements, would act as bracing for the building."
For its efforts, his firm last year won a gold medal for homes over $2m in the Southern Region Registered Master Builders House of the Year competition.
It also picked up lifestyle awards for outdoor living and bathroom excellence.
