Queenstown Lakes District Council has bought a once in a lifetime opportunity

Councillors voted unanimously to buy land at Wanaka's Mt Iron and Little Mt Iron at yesterday's meeting.

The 100 hectares of land will be held as public reserve on behalf of the local community.

Mt Iron is the centrepiece of Wanaka, attracting up to 180-thousand people a year.

Councillor Quentin Smith says he's excited such a significant and much-loved part of Wanaka is coming into public ownership.

He says opportunities like this come along maybe once in a generation.