Former Prime Minister John Key paid a massively-discounted price for a section at Queenstown’s Gibbston Valley Resort — in return for promoting the 400-hectare development. According to property records, his trust paid $400,000 in June 2021 for a section at The Reserve, by a planned nine-golf course. Just two months earlier, someone paid $2 million — five times as much — for an adjacent section on Toms Creek Rd. Ironically, Key earlier told Stuff he’d bought his section because it was good value for money. ‘‘Having somebody like Sir John Key show confidence and have his name affiliated with it was absolutely good for the development, no question.

Source: Stuff May 24, 2024 15:30 UTC