The Overseas Investment Office has granted a British company, consent to acquire the Crown pastoral lease of the 22,000 hectare Coronet Peak Station near Queenstown.
Soho Property Limited already has leases for three other South Island stations; Glencoe, Mount Soho and Motatapu. They have a combined area of 33,000ha and all border Coronet Peak Station.
The company says because the station borders the Shotover River, buying the lease presents a unique opportunity to minimise the risk of plant and animal pests re-infesting the other three properties.
It intends to continue farming about four thousand merino sheep on the station and wants to capitalise on eco-tourism and adventure tourism.