Pukaki Lagoon Explosion Crater is between 80,000 and 100,000 years old and is being sold as part of a 62.3-hectare property on Pukaki Rd.
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The sale includes 26 hectares of freehold land circling and sloping down to 36.3 hectares of leasehold land containing the crater, which has been farmed in conjunction with the surrounding freehold land.
The Prangley family has owned the freehold land since the 1940s and has a lessee's interest in the lagoon crater land under a perpetually renewable lease from the Pukaki Maori Marae Committee.
Pukaki Marae is on the crater rim.