A Hong Kong billionaire’s development of a high country station in the Mackenzie Basin is shifting up a gear.

Blue Lake Investment (NZ) Ltd, owned by Hong Kong billionaire Ka Kit “Peter” Lee, paid $16.5 million two years ago to buy the 3550-hectare Guide Hill Station on the eastern shore of Lake Pukaki, about 24km from Tekapo.

The Overseas Investment Office’s approval for the sale highlighted $5.6 million of additional investment by Blue Lake, including spending $2 million building accommodation and tourist facilities. . . . . .