Aussie billionaire pays undisclosed sum for Queenstown land

Multiplex heir Timothy Roberts has purchased a Queenstown waterfront property for an undisclosed sum with approval from the Overseas Investment Office.

A decision from the OIO shows Roberts, who is one of Australia’s wealthiest people, bought 40ha on the waterfront of Lake Wakatipu in Queenstown.

The amount under consideration was not disclosed, with the OIO citing section 9 of the Official Information Act.

Consent granted from the OIO states that Roberts plans to obtain New Zealand residency and reside in New Zealand indefinitely.

The property was approved for sale with the OIO satisfied Roberts would reside in New Zealand. Photo / Supplied