The vast underground property planned for Wānaka is being built by multimillionaire Matt Chapman, a New Zealand permanent resident.
The vast underground property planned for Wānaka is being built by multimillionaire Matt Chapman, a New Zealand permanent resident.
A New Zealand permanent resident multimillionaire is building a vast underground home on the shores of Lake Wānaka.
Planning documents seen by the Herald show “global wellness leader” Matt Chapman has been approved consent to build the largely subterranean property at Buchanan Rise, overlooking the picturesque Central Otagolake.
The sprawling house will be developed on the promontory of Roy’s Peninsula, with spectacular, untainted views of water and mountains.
The prime land alone, which Chapman obtained in 2020, is valued at $9.14 million.
The Herald understands the build, which is already under way, is expected to cost several million more.
“Once I lived in New Zealand, I ultimately wanted a piece of land that just felt like it was timeless. What drew me to the peninsula was it was very untouched, and the views were also very untouched,” he said.
“It’s much more about the land for me than the structures.”
He said the name of the building would be Telepathy, inspired by the connections built through some of his companies.
The home’s subterranean nature was due not only to his commitment to preserving the area’s environment but is also intended to protect the home from the winds off the lake.
Queenstown-based engineering firm Hadley Consultants has been contracted to build a sealed private driveway leading to the house.
Chapman, who made his fortune through a range of international ventures, said he wasn’t quite sure of the driveway’s length, but noted it would be quite the slog when he was going for a run.
He said he looked forward to joining the Wānaka community and sharing his passion by opening a high-performance wellbeing centre in the town.
“I sort of consider Wānaka to be probably the most wellbeing-centric place in the country, so that’s what my contribution will be.”
Last year, United States tech billionaire Peter Thiel’s plans to build a 330m-long, hidden luxury lodge overlooking Lake Wānaka were rejected.
A Queenstown Lakes District Council independent resource consent panel decided Thiel’s “large, very long building” would be too visible from a public walking track, that the 1165sq m lodge was inappropriately dominant in the outstanding natural landscape and deemed the design details lacked clarity.
Commissioners Ian Munro, Glyn Lewers and Wendy Baker said the lodge would be “particularly” and “frequently visible” from the nearby Glendhu Bay track.
OneRoof editor Owen Vaughan said property values in Queenstown-Lakes were on the rise again after a run of high-value sales in the district, including a $40m-plus record for an undisclosed estate, part of which has development potential.
”The May purchase of an award-winning trophy home in Roy’s Peninsula for $16m — a record for Wanaka — shows there is appetite for the location and for multimillion-dollar builds,” he said.
”There is a reason these spots are in high demand. They are beautiful but also secluded — perfect for rich-listers, CEOs and celebrities who want the lifestyle Queenstown-Lakes offers but also wish to keep a low profile.”
Top five Queenstown-Lakes sales this year
Apr 1, 2023: 7 Hidden Island Rd, Jacks Pt. Sold for $19,222,985.
May 1, 2023: 468 Buchanan Rise, Treble Cone/Mount Aspiring. Sold for $16,000,000.
Jan 1, 2023: 591 Mt Barker Rd, Wānaka, Queenstown Lakes. Sold for $10,000,000.
Jul 1, 2023: Kingston Rd, Jacks Pt. Sold for $10,000,000.
Sep 1, 2023: 117 Arthurs Pt, Arthurs Pt. Sold for $8,900,000.
