Price for station drops from $62m to $35m

Poronui Station is off State Highway 5, the Napier-Taupo highway.

The asking price for the country's most exclusive fishing and hunting ranch has been almost halved.

The 7000ha Poronui Station near Lake Taupo went on the market last September for $62 million but American owners the Blake family are now seeking just $35 million.

United States magazine Forbes last month listed Poronui as one of the world's most exclusive properties for sale, alongside other estates and mansions throughout the world.

Andrew Johnson, business manager for Blake Family Holdings, said the price drop was partly influenced by the strengthening New Zealand dollar but other factors had also influenced the change.

"We just had to put a line in the sand in terms of the value and that was the feeling in terms of working with the overseas market," he said.

"Currency strength had a lot to do with it but we brought it back to re-engage people and to see how that went and there's been a lot of interest from New Zealand and internationally," he said.

Inquiries made after the price plummet were being followed up, but the station was still for sale, he said.

Industrial officials in Auckland said the drop was expected because the original asking price had been ludicrous. The vendors had simply realised their initial expectations were "absurd" said one official from an Auckland consultancy.