Australian billionaire Tim Roberts told the Otago Daily Times a newspaper report of the sale was "just silly" because he effectively remained the property's owner.
In yesterday's New Zealand Herald article, CoreLogic NZ said the 12ha Speargrass Flat property had sold on June 27 for $13.9million.
It went on to describe it as a "high-profile property at the centre of a helicopter fight", detailing an ongoing legal tussle between Mr Roberts and neighbours over his use of a helipad.
But Mr Roberts said the transfer was simply a "restructuring arrangement". The property had been sold to a trust of which he was the beneficiary.
Mr Roberts bought the property for $4.2million in 2017, after getting permission from the Overseas Investment Office.
The vendor was Queenstown businessman Donald Fletcher, one of the original partners in the Jacks Point development.
Mr Roberts told the Mountain Scene in 2017 he bought the property to build a life there.
One of three heirs to an estimated $2billion family fortune, the keen outdoor sportsman and pilot was convinced to relocate from Perth by the resort's combination of the great outdoors and fun-filled skies.
"I've been coming over regularly for years ...
with what it can offer, if you talk about mountain biking, adventure, outdoors and aviation, I'm now choosing to make it my home."
The record price for the Malaghans Rd property will not last long. The New Zealand Herald reported the sale of Waiheke Island's Te Rere Cove settled on Wednesday.
The sale has yet to show up on official documents and the property was valued at $24million last year.
