Queenstown state of mind for wealthy New Yorkers

Billionaires Julian and Josie Robertson have their sights on another piece of prime New Zealand real estate, this time in Queenstown.

The Robertsons are based in New York but have had close links with New Zealand since they first visited in 1978.

They now spend three months of the year in New Zealand at their luxury lodges in Northland and the Hawke's Bay.

But now the couple have decided to buy Matakauri Lodge in Queenstown.

The Overseas Investment Office (OIO) confirmed it had received an application from the Robertsons to buy the luxury lodge overlooking Lake Wakatipu. It is thought they have offered $12 million for the lodge.

OIO chief executive Annelies McClure said the office tried to assess applications in 50 working days.

Overseas investors have to prove they have financial commitment to the investment and have considered environmental and economic factors.

A spokeswoman for the Robertsons declined to comment on the purchase.

Julian Robertson was nicknamed "the Wizard of Wall Street" when he headed the world's largest hedge fund in the 1980s and 90s.

The Robertsons already have several investments in New Zealand. They own Kauri Cliffs, set on 2426ha near Matauri Bay, Northland, where rates go as high as $8750 a night.

In the Hawke's Bay, the Robertsons have developed a golf course at Cape Kidnappers.

Hastings District Mayor Lawrence Yule said the Robertsons had put Hawke's Bay on the map.

"It's showcased our region. I am delighted to have them in the region."

Northland mayor Wayne Brown said the Robertsons have created an asset in the community with the Kauri Cliffs lodge, as well as their support for local cultural and art event.

Queenstown Mayor Clive Geddes said the Robertsons would be welcomed into the Queenstown community.

The Robertsons recently donated $115m of art to the Auckland Art Gallery including works by Cezanne and Picasso.