4 Fishermans Lane, Bob's Cove | Property Research Report

01 — Property Overview

An Architect's Vision on
Lake Wakatipu

Conceived by London-based architect Alex Wilcock, a protege of British design icon Sir Terence Conran, 4 Fishermans Lane is a residence of exceptional refinement set within the natural lakeside sanctuary of Bob's Cove. Built by Triple Star Construction between 2017 and 2019, the home represents a careful composition of proportion, material and view, constructed to exacting standards intended for 100-year durability.

The property comprises a total built area of 573m² (394m² main dwelling, 138m² conservatory, 41m² garage) plus a 147m² bunker basement housing all mechanical systems. It sits on a generous 3,820m² section (Lot 1 DP 23779) with a 1/9 share in the 2,820m² private road (Lot 5 DP 23779), and is located approximately 15 minutes' drive from Queenstown town centre along the Glenorchy-Queenstown Road.

The dwelling is arranged as five bedrooms, each with an ensuite bathroom, plus a powder room, open-plan kitchen/dining/living area, a 30-metre conservatory with the largest Vitrocsa door installation in New Zealand, media room, commercial-grade scullery and food store, laundry, boot room and internal-access double garage. The conservatory doors fully open to merge indoor and outdoor living, with floor-to-ceiling adjustable screens and louvres framing views of the cove's crystal-clear waters and surrounding mountains.

Living area with panoramic lake and mountain views through floor-to-ceiling glazing

The Conservatory

Where Architecture Meets Landscape

The 30-metre conservatory is the heart of the home, featuring the largest Vitrocsa door installation in New Zealand. Floor-to-ceiling panels slide open completely, dissolving the boundary between interior and the surrounding alpine landscape. Adjustable screens and louvres frame views across Bob's Cove to the mountains beyond.

The open-plan kitchen features commercial-grade appliances, a wall-to-wall splashback mirror reflecting the views, touch-activated storage, wine fridges, and a dedicated commercial pantry and scullery.

Property Details

At a Glance

Legal
Record of Title	OT15D/979 (Identifier)
Legal Description	Lot 1 Deposited Plan 23779 (3,820m²) plus Fee Simple 1/9 share in Lot 5 Deposited Plan 23779 (2,820m² private road)
Estate	Fee Simple
Land District	Otago
Title Issued	28 March 1995
Registered Owners	Armagh Trustee Services Limited and Bryan Mark Coleman Pearson
Valuation Number	2907307306
Property
Address	4 Fishermans Lane, Bob's Cove, Queenstown 9371
Land Area	3,820m² (plus 1/9 share of 2,820m² road)
Bedrooms / Bathrooms	5 bedrooms, 5 bathrooms, 1 powder room
Total Built Area	573m² (dwelling 394m² + conservatory 138m² + garage 41m²)
Basement / Bunker	147m²
Architect	Alex Wilcock (London) / Design Draught Ltd (NZ documentation)
Builder	Triple Star Construction (Paul ter Haar / Amy Kirk)
Structural Engineer	Batchelar McDougall Consulting (BMC)
Landscape Architect	Green Therapy / Richard Tyler (RTLA/SITE)
Interior Design	Kemp House (London)
Zoning & Rates
Zone	Rural Residential (Operative District Plan) with Wahi Tupuna overlay
Government Valuation	Land $2,250,000 / Improvements $7,290,000 / Capital $9,540,000
Rates 2025/26	$9,814.66 per annum (no arrears)
LIM Number	LM251481, issued 18 September 2025
Key Systems
Heating	Ground-source heat pump (25 wells extending to Lake Wakatipu), hydronic underfloor throughout
Cooling	VRF ducted climate control
Home Automation	KNX system with Dynalite lighting control, motorised sunscreens and insect screens
Flooring	Dinesen (Denmark) timber flooring
Glazing	Vitrocsa windows and sliding panels (largest installation in NZ)

02 — Location & Area

Bob's Cove

Bob's Cove (known to Kai Tahu as Punatapu, meaning "sacred pool") is a natural inlet on the western shore of Lake Wakatipu, located approximately 14 kilometres from Queenstown along the Glenorchy-Queenstown Road. The cove is named after Captain Bob Fortune, who commanded a lakeboat for William G. Rees, the founder of Queenstown, and frequently sheltered from local storms in the cove.

The area has deep Maori heritage. It was used as a nohoaka (seasonal settlement and staging post) by mana whenua ancestors who travelled up and down Whakatipu Waimaori (Lake Wakatipu). The property falls within the Wahi Tupuna overlay (area 16: Punatapu) under the Queenstown Lakes District Plan, recognising values of whakapapa, rakatirataka, kaitiakitaka, mana, mauri, tauraka waka (canoe landing), nohoaka, archaeological values and wahi tapu. Activities triggering consideration under this overlay include earthworks, subdivision, buildings and structures, and energy/utility activities.

The Bob's Cove area features a 42-hectare Department of Conservation reserve surrounding the cove, with a popular walking track through mature red beech forest passing historic lime kilns from the 1800s when the Wakatipu Lime Company processed limestone here. The lime works supplied mortar for many of Queenstown's historic buildings including the Library, Courthouse and County Building.

The residential subdivision at Fishermans Lane was developed by Bob's Cove Developments Limited in the early 1990s, with 15 freehold residential sections in the first stage along the private lane. The wider 94-lot masterplan envisaged a private nature reserve across 75% of the land, though the developer (Dan McEwan) was later declared bankrupt owing creditors over $100 million, and Bob's Cove Ltd entered receivership in June 2009 under Strategic Finance.

Today, Fishermans Lane is a quiet, established enclave of premium lakefront residences. The property is approximately 90-110 metres from the lake foreshore and elevated 15-20 metres above lake level. It enjoys views over Lake Wakatipu and Bob's Cove to the south and the surrounding mountain ranges to the west. Access is via the private shared road (Lot 5 DP 23779), just 30 metres from the intersection with the Glenorchy-Queenstown Road.

03 — Record of Title

Title & Instruments

The property is held on Record of Title OT15D/979 (Otago Land District), comprising a fee simple estate in Lot 1 Deposited Plan 23779 (3,820m²) together with a fee simple 1/9 share in Lot 5 Deposited Plan 23779 (2,820m²), being the shared private road known as Fishermans Lane. The title was issued on 28 March 1995 and is subject to Sections 241(2) and 242(1) of the Resource Management Act 1991, standard conditions imposed at subdivision.

Ownership History

1993

Cove Lodge (Seven) Ltd

Original transfer from Bobs Cove Developments Limited for $40,000 (Instrument 826822.2), including a right of way over part Lot 1 DP 22579.

December 2000

Paul & Deborah Smith

Purchased from Bobs Cove Developments Ltd for $160,000 (Instrument 5018456.3). Period of subdivision infrastructure development and easement establishment.

July 2005

Gary Arthur Richwald (via Tate)

Mortgage of $2,530,000 registered (Instrument 6523009.1) through North South Finance. Richwald subsequently took direct ownership in September 2005 (Instrument 6602924.3). Richwald's address recorded as 250 Fifth Avenue, Venice, CA 90291, USA.

July 2010

Graham Lawn & Armagh Trustee Services Ltd

Transfer from Richwald (Instrument 8490650.2). Current ownership structure established.

Current

Armagh Trustee Services Limited & Bryan Mark Coleman Pearson

The registered proprietors as shown on the current title.

The Setting

Designed to Disappear into the Landscape

The dwelling is concealed within its environment by design. Virginia creeper cloaks the precast concrete walls, native plantings by Green Therapy surround the gravel pathways and turning circle, and the low-profile roofline sits well below the permitted maximum height. From the Glenorchy-Queenstown Road, the house is invisible.

The 3,820m² section slopes gently south towards the lake at approximately 5-7 degrees, with mature beech trees along the boundaries and a curated landscape of native tussocks, flax, shrubs and feature schist walls.

Exterior view of the vine-covered dwelling with mountains and lake beyond

Title Instruments

Registered Instruments on OT15D/979

The following instruments are currently registered against the title. All instruments have been read in full as part of this research.

Instrument	Type	Date	Summary
878936.10	Easement Certificate	1993/1995	Original easement by Bob's Cove Developments Ltd. Right to convey water and electricity across Lots 3 and 4 (areas B, C, D, E on DP 22579/23779). Right to store water on Lot 4 area C. Dominant tenement includes Lot 1 DP 22579 (CT 14D/940). Cost-sharing proportional to use; disputes resolved by negotiation, then LEADR mediation, then arbitration.
6165532.1	Encumbrance (Rentcharge)	8 Sep 2004	Encumbrance in favour of Bob's Cove Utilities Limited. Annual service charge for private utilities (water, sewage, electricity). Owner must hold 10 shares in the utilities company. Quarterly payments, 18% interest on arrears. 11-page instrument.
6191527.7	Easement in Gross	16 Feb 2004	Aurora Energy electricity easement. Rights to convey electricity and establish/maintain transformer infrastructure across the development.
6191527.8	Easement in Gross	19 Aug 2004	Telecom NZ telecommunications easement. Cable installation rights across areas B, E, E1, F, F1, G, G1 on DP 23779 and DP 319903.
6191527.9	Easement in Gross	30 Apr 2004	Bob's Cove Utilities Ltd sewage and water easement. Rights to convey sewage and water through the development's private infrastructure network.
6191527.10	Easement (Appurtenant)	30 Apr 2004	Comprehensive development easements. Right of way, sewage/water conveyance, stormwater drainage. Lot 1 benefits from right of way over Lot 5 (area B) for access. 10-page instrument.
7775858.1	Easement (Sewage Drainage)	21 Sep 2007	Right to drain sewage over area "E" on DP 23779. Multi-party instrument involving 12 grantor parties across the subdivision. Grantee: Bob's Cove Utilities Limited and Gary Arthur Richwald. Proportional maintenance costs; negligent party bears cost. 28-page instrument with multiple mortgagee consents (BNZ, ASB, Westpac, NZ Guardian Trust, Strategic Nominees).
12172060.1	Revocation of Land Covenant	16 Aug 2021	Surrender of Land Covenant instrument 10553645.1 affecting OT14D/940 and OT15D/979. Executed by Armagh Trustee Services Limited and Bryan Mark Coleman Pearson under s116(1)(c) Land Transfer Act 2017.

04 — Easements & Encumbrances

Key Obligations

Bob's Cove Utilities Limited

The most significant ongoing obligation is the encumbrance in favour of Bob's Cove Utilities Limited (Instrument 6165532.1). This private company provides water supply, sewage disposal, and electricity distribution infrastructure to the Fishermans Lane subdivision. Key terms include:

Shareholding	The property owner must hold 10 shares in Bob's Cove Utilities Limited at all times
Service Charges	An annual service charge is payable, reviewed quarterly, to fund the operation and maintenance of private water, sewage and electricity infrastructure
Default Interest	18% per annum on overdue payments
Transfer Obligation	On sale, the purchaser must acquire the shares and accept the encumbrance obligations

Right of Way

Lot 1 DP 23779 benefits from a right of way over Lot 5 DP 23779 (area B), providing vehicular access from the Glenorchy-Queenstown Road via Fishermans Lane. The road lot is shared in 1/9 interests among the subdivision lot owners. This is a private road, not maintained by council.

Easement Network

The title carries a comprehensive network of easements serving the private infrastructure of the Bob's Cove subdivision. These include easements in gross in favour of Aurora Energy (electricity conveyance and transformer), Telecom NZ/Chorus (telecommunications), and Bob's Cove Utilities Limited (water and sewage). The 2007 sewage drainage easement (7775858.1) is a particularly detailed 28-page instrument involving 12 grantor parties across the wider subdivision, with proportional maintenance cost-sharing and provisions that negligent parties bear the cost of damage they cause.

Revoked Covenant

A land covenant (Instrument 10553645.1) was formerly registered but was formally revoked by Instrument 12172060.1 on 16 August 2021 under s116(1)(c) of the Land Transfer Act 2017. This covenant no longer affects the title.

05 — Building History

Construction & Consents

The dwelling has undergone significant evolution since the original 2006 build. The building consent and resource consent history traces the transformation from a modest single-storey home to the current architecturally refined residence.

Building Consents

Consent	Date Issued	Description	Builder / Owner	CCC Issued	Notes
BC060175	2006	Erect residential dwelling. Single storey, 4-bed, open-plan living, attached double garage, detached boat shed. 325m² (8.5% site coverage). Schist and plaster cladding (Resene Heathered Grey), Sandstone Grey Coloursteel roof.	Gary Arthur Richwald (250 Fifth Avenue, Venice, CA, USA) / Black Architecture Ltd (Brent Alexander)	12 Oct 2007	Notice to Fix issued 3 Sep 2007 for: incomplete plumbing/electrical, fit traps to sumps, lower overflow relief gully, seal cap flashings, vermin-proof roof junctions, undercap flashing, electrical compliance certificate, waterproofing warranties, as-built drainage plan. CCC issued after NtF compliance by 12 Oct 2007.
BC170302	25 May 2017	Stage 1: Foundations, plumbing and drainage for alterations including boat shed, conservatory, garage, swimming pool. PIM: Wind zone A, earthquake zone 3, snow N5, exposure B.	Armagh Trustee Services & B M C Pearson / Triple Star Management (Amy Kirk, Paul ter Haar). Structural: Batchelar McDougall Consulting.	29 May 2019	Foundations and below-ground works for the major renovation. All inspections passed.
BC180250	14 May 2018	Stage 2: Above-ground alterations and additions. Southern wing replacement, conservatory, boat storage. Minor variation for gutter detail and insulation changes. Professional Building Consultants (PBC) engaged.	Armagh Trustee Services & B M C Pearson / Triple Star Management	24 Jun 2019	Above-ground structure completing the major renovation. External materials: precast profiled concrete (Peter Fell sandstone/charcoal range), glass conservatory roof, Colorsteel (Slate or Charcoal), mocha anodised aluminium joinery.
BC201304	14 Dec 2020	Bathroom renovations (waterproofing and tiling). Architect: Bureaux Ltd (Nathan Swaney, Auckland). Tiling: Bella Casa Tiling Ltd.	Armagh Trustee Services & B M C Pearson / Triple Star Management (Paul ter Haar)	4 Mar 2024	Work start extensions granted to Dec 2022 and Jan 2023. CCC for final bathroom scope issued March 2024. All building consents now have Code Compliance Certificates.

Resource Consents

Consent	Date	Description	Status	Key Details
RC115	1992	Original subdivision consent creating the Fishermans Lane lots	Completed	Established the lots including Lot 1 DP 23779 and the shared road Lot 5.
RM051228	18 Apr 2006	Construct a dwelling at 4 Fishermans Lane	Granted (Controlled Activity, non-notified)	Decision by David Clarke, Independent Commissioner. Conditions: revised landscape plan with screening, engineering works per NZS4404:2004, 30,000L water tank (20,000L fire reserve), sealed vehicle crossing, underground power/telecom. Monitoring inspection 26 May 2010 confirmed full compliance.
RM160396	7 Jun 2016	Alterations, additions and encroachment into internal boundary setback	Surrendered	Restricted discretionary. Approved for alterations to southern wing. Applicant subsequently surrendered this consent in favour of revised design under RM160792.
RM160792	22 Nov 2016	Alterations and additions to existing dwelling with associated earthworks and landscaping	Granted (Restricted Discretionary, non-notified)	Decision by Paula Costello, Senior Planner. The major renovation consent. Breaches: site coverage 20.25% (max 15%), western boundary setback encroachments (covered deck 1,450mm, boat shed 2,950mm), earthworks 470m² (max 400m²). Earthworks: cut 100m³, fill 370m³. Engineering conditions for fill supervision by GeoSolve (Paul Faulkner). Earthworks by Done-Rite Contracting Ltd.
RM170287	20 Apr 2017	Variation of conditions 1, 3, 5 of RM160792	Granted (Discretionary, non-notified)	Decision by Paula Costello. Changes: removal of central extension, new conservatory, enlarged/reoriented pool and decking, grass roof changed to grey mineral chip membrane, removal of eastern service access, new turning circle. Coverage reduced to 18.7%. Earthworks reduced to 450m³. Subsequent colour/material certification (7 Mar 2018) approved: precast concrete replacing cedar, mocha anodised joinery, glass conservatory roof, Colorsteel replacing membrane.

All resource consents were processed on a non-notified basis. The LIM confirms no outstanding conditions or enforcement actions. All building consents have received Code Compliance Certificates.

06 — Services & Infrastructure

Utilities & Access

Water Supply
Type	Private supply (not connected to public/council water)
Provider	Bob's Cove Utilities Limited (private scheme)
Fire Reserve	30,000L water tank required by RM051228 (20,000L fire reserve)
Water Quality Note	LIM notes that arsenic has been detected in some private groundwater supplies in the Queenstown Lakes District due to naturally occurring minerals in schist rock. Regular testing of private water supplies is recommended.
Wastewater
Type	On-site disposal via private community scheme
Provider	Bob's Cove Utilities Limited / Railton Contracting and Drainage Ltd
Capacity	Current loading 4m³/day; designed loading 15m³/day (confirmed adequate for all additions)
Infrastructure	Sewage rising main from property pumping station to Bob's Cove communal system (GDM Consultants specification). Drainage easements (7775858.1) provide rights over area "E" on DP 23779.
Stormwater
Disposal	On-site disposal. Two 90m³ underground retention tanks collect water for irrigation and stormwater attenuation.
Note	Bob's Cove stormwater abatement notice referenced in LIM.
Electricity
Network	Powernet (distribution), Aurora Energy (lines company)
Connection	Underground supply from Fishermans Lane road boundary. Aurora Energy easement (6191527.7) provides for transformer and conveyance infrastructure.
Telecommunications
Provider	Chorus (fibre/copper infrastructure)
Connection	Underground from road boundary. Telecom easement in gross (6191527.8) across the development.
Gas
Provider	Rockgas (LPG supply)
Access
Road	Fishermans Lane (private lane), accessed from Glenorchy-Queenstown Road
Legal Access	Right of way over Lot 5 DP 23779 (area B), held in 1/9 shares among subdivision lot owners
Road Maintenance	Private. Not maintained by QLDC. Cost shared among lot owners.
Vehicle Crossing	Sealed crossing to Fishermans Lane (condition of RM051228)

Commercial-grade kitchen with dual islands, Dinesen timber cabinetry and mountain views through open shelving

Craftsmanship

100-Year Build Quality

The 2017-2019 renovation by Triple Star Construction transformed the original 2006 dwelling into its current form. The southern wing was entirely rebuilt, with new foundations, structural engineering by Batchelar McDougall Consulting, and above-ground construction documented across two staged building consents.

Key specifications include Dinesen (Denmark) timber flooring, ground-source heating via 25 wells extending to Lake Wakatipu, hydronic underfloor heating throughout, VRF ducted climate control, and KNX home automation with Dynalite lighting.

07 — Natural Hazards & Geotechnical

Land Stability & Risk Assessment

Geotechnical Reports

Two geotechnical assessments have been conducted for this property:

Jeff Bryant Geoconsulting (2005): Original geotechnical investigation for the initial dwelling construction under BC060175. Report referenced in LIM.

Coffey Geotechnics NZ Limited (4 April 2016): Comprehensive liquefaction hazard assessment for proposed residential extension and development, commissioned through Jeff Bryant of Geoconsulting Ltd. Key findings:

Site Elevation	15-20 metres above lake level
Distance from Lake	Approximately 110 metres from lake edge
Slope Gradient	Approximately 1:10 V:H (5-7 degrees), steepening towards lake
Soil Conditions	Lake sediments (low to medium plasticity clay) overlain by 1-3m cap of sand and gravel "beach deposits". Sand/gravel loose becoming medium dense by ~1.0m depth.
Groundwater	Perched water table encountered in test pit TP7 within overlying sand/gravel. True water table consistent with lake level at ~15-20m below ground.
Liquefaction Risk	Low to moderate. Non-liquefiable crust of gravel and unsaturated lake sediments exists below proposed development areas due to elevated position above groundwater.
Lateral Spreading	Constrained to land immediately adjacent the lake edge. Low risk to existing dwelling and proposed developments given 110m setback.
QLDC Classification	LIC 2(P): Probably moderate liquefaction. TC2-type foundations acceptable.

Seismic Context

The property sits within Earthquake Zone 3 (per BC170302 PIM). The broader Queenstown region faces seismic risk primarily from the Alpine Fault, which has a 75% probability of rupture within the next 50 years, likely producing a magnitude 8+ event. The Queenstown Lakes area may experience significant ground shaking from such an event, though Bob's Cove's elevated position and geotechnical profile provide some natural mitigation against the worst liquefaction effects.

Other Hazard Considerations

Flooding	No council flood records for this property. Elevated 15-20m above lake level.
Land Stability	No council records of instability. Geotech reports confirm stable conditions.
Contamination	Not a HAIL site. ORC confirmed no contaminated sites within the vicinity (Charles Horrell, ORC, 4 May 2016). Nearest consented discharge to land is 380m east.
Swimming Pool	No swimming pool barrier records on LIM (pool constructed under BC170302/BC180250 per resource consent).
Warrant of Fitness	Not required (residential dwelling, not a specified system).
Wind Zone	Zone A (PIM)
Snow Loading	N5 (PIM)
Exposure Zone	B (PIM)

08 — Zoning & District Plan

Planning Framework

Rural Residential Zone

The property is zoned Rural Residential under the Queenstown Lakes Operative District Plan. This zone applies to areas of rural character where residential development at low densities is anticipated. Key rules applicable to 4 Fishermans Lane include:

Building Coverage	Maximum 15% of site area (Rule 8.2.4.1). The consented development is 18.7% following RM170287 variation, approved as a restricted discretionary activity.
Boundary Setbacks	Minimum 6m from internal boundaries. The property has consented encroachments: boat shed 2,950mm into western setback (12.85m²), pool/decking 8.7m² within setback. Total encroachment area 21.55m².
Height	Compliant. Single-storey design well below permitted maximum.
Earthworks	Maximum 400m³ in Rural Residential zone (Tier 4, Table 22.1). Consented at 450m³ under RM170287.
Activity Status	Construction of buildings is a controlled activity (Rule 8.2.2.2). Breaches of site standards trigger restricted discretionary assessment.

Wahi Tupuna Overlay

The property falls within Wahi Tupuna area 16 (Punatapu / Bobs Cove and surrounds) under Chapter 39 of the District Plan. This overlay recognises the area's significance to Kai Tahu as a nohoaka (seasonal settlement) and staging post along ancestral travel routes on Whakatipu Waimaori. Values recognised include whakapapa, rakatirataka, kaitiakitaka, mana, mauri, tauraka waka (canoe landing), nohoaka, archaeological values and wahi tapu. Future earthworks, subdivision, building construction, or energy/utility activities may require consideration of these manawhenua values.

Proposed District Plan

QLDC notified the Proposed District Plan on 26 August 2015. At the time of the most recent resource consent decisions affecting this property (2016-2017), there were no rules with immediate legal effect applicable to the proposal. Purchasers should conduct their own enquiry as to the current status of any proposed plan provisions affecting the Rural Residential zone.

09 — Rental Returns

Income Potential

Long-Term Rental

Q Property Management (Mark Blake, Director) assessed the long-term rental potential at an estimated $8,000 per week, reflecting the uniqueness of the property and the nature of the top-tier rental market in Queenstown. This appraisal was prepared on 11 November 2025.

Short-Term Accommodation

MajorDomo, premium holiday home managers operating in Queenstown since 2013, assessed the short-stay potential as follows (current market estimate):

Nightly Rate	$5,000 - $8,000
Minimum Stay	3-5 nights (season dependent)
Estimated Nights	60-90 per annum
Occupancy Returns	60-70% after all stay costs
Clean & Linen	$1,020 + GST per stay
Peak Season	Summer. Availability over summer months essential for success.

MajorDomo noted that larger homes with 5+ bedrooms are in high demand, appealing to multi-generational families and groups. The property's exceptional outlook, design quality, and easy lake access position it strongly in this market segment.

Indoor-Outdoor Living

Entertaining at Scale

The dining area sits within the conservatory, with slatted timber ceiling and Vitrocsa glazing on both sides allowing the space to open completely to the garden. The solid timber dining table anchors a room designed for large-scale entertaining, with views through to the native plantings and lake beyond.

The property is equally suited to long-term luxury living or premium short-stay rental, with MajorDomo estimating 60-90 nights per annum at $5,000-$8,000 per night for homes of this calibre in the Queenstown market.

Dining area within the conservatory with slatted timber ceiling and garden views

10 — Market Context

Queenstown's Luxury
Property Market

Queenstown's ultra-premium property market is experiencing exceptional momentum. Nearly 20% of New Zealand's $5M+ properties are located in the Queenstown area, and between 2021 and 2024, sales of properties priced above $5 million rose by 21% even as total market transactions declined by 13%. By September 2025, interest in ultra-prime homes had quadrupled, with the Otago region accounting for one in three such enquiries nationally.

A significant driver has been the government's Active Investor Plus (Golden Visa) programme, which requires a minimum $5 million investment and has reopened the market to qualified international capital after a decade of overseas buyer restrictions. New Zealand's competitive advantages for high-net-worth buyers include no stamp duties or capital gains taxes, geographic scarcity due to natural development constraints from mountains and conservation land, and strong property rights within a stable democratic system.

The global luxury real estate market is projected to grow from USD $289.6 billion (2023) to USD $515.3 billion by 2032. An estimated 128,000 high-net-worth individuals migrated internationally in 2024, with the global HNWI population reaching 2.34 million. Trans-Tasman appeal remains strong, with over 50,000 Australians relocating between countries annually and Australia's HNWI population projected to reach 27,330 by 2026.

Within this context, homes in the Queenstown-Lakes district typically exit the market within 25-27 days, and average home values have surpassed $2 million, marking a 12-16% increase above recent market troughs.

Sheltered outdoor lounge beneath slatted pergola with views to native garden

Sanctuary

15 Minutes from Town, a World Away

Bob's Cove offers the rare combination of genuine seclusion and practical proximity. The drive from Queenstown takes only minutes along the Glenorchy-Queenstown Road, yet the feeling on arrival is of complete retreat. The DoC reserve surrounding the cove, mature beech forest, and absence of through-traffic create a stillness that is rare even in Queenstown's wider lakeside communities.

Coronet Peak ski field is approximately 30 minutes' drive; Queenstown town centre and airport are 15 minutes.

11 — Purchaser Considerations

Key Points for
Due Diligence

The following matters are highlighted for the attention of prospective purchasers. This list is not exhaustive and should not be treated as legal or financial advice. Independent professional advice is recommended.

Title & Ownership

The property carries multiple registered easements and an encumbrance in favour of Bob's Cove Utilities Limited. A purchaser will need to acquire 10 shares in the utilities company and accept ongoing service charge obligations.

The 1/9 share in the private road (Lot 5 DP 23779) carries shared maintenance obligations. Road upkeep costs are divided among the lot owners and are not managed by council.

The title is subject to Sections 241(2) and 242(1) of the Resource Management Act 1991, which are standard conditions imposed at the time of subdivision.

Services & Infrastructure

All utilities (water, sewage, electricity) are provided through a private scheme, not council infrastructure. Service continuity depends on the ongoing operation of Bob's Cove Utilities Limited and the condition of shared infrastructure.

Water supply is private, not public. The LIM flags arsenic as a naturally occurring element in Queenstown Lakes groundwater. Regular water quality testing is recommended.

Wastewater is disposed on-site via the private community scheme. The designed capacity (15m³/day) significantly exceeds current loading (4m³/day).

The ground-source heat pump system (25 wells to the lake) and KNX home automation are specialist systems requiring ongoing maintenance by qualified technicians.

Building & Compliance

All four building consents (BC060175, BC170302, BC180250, BC201304) have received Code Compliance Certificates. The LIM shows no outstanding notices, orders or requisitions.

The original 2006 build received a Notice to Fix (3 Sep 2007) for various defects, all of which were resolved and the CCC was issued on 12 Oct 2007. The subsequent 2017-2019 renovation essentially rebuilt the southern wing.

The most recent CCC (BC201304, bathroom renovations) was issued 4 March 2024.

Zoning & Future Development

The consented building coverage of 18.7% exceeds the standard 15% maximum for the Rural Residential zone. Western boundary setback encroachments total 21.55m². Any future alterations may require further resource consent.

The Wahi Tupuna overlay may require consideration of manawhenua values for future earthworks, building, or subdivision activities.

Purchasers should check the current status of the Proposed District Plan provisions as they relate to the Rural Residential zone.

Natural Hazards

Liquefaction risk is classified as LIC 2(P): probably moderate. TC2-type foundations are acceptable. The elevated position (15-20m above lake) and 110m setback from the lake edge provide natural mitigation against lateral spreading.

The Queenstown region faces significant seismic risk from the Alpine Fault (75% probability of M8+ event within 50 years). Insurance and structural resilience should be considered.

"Every effort has been made to ensure the accuracy of this report. It is intended as a research aid only and should not be relied upon as legal, financial or professional advice."

This report was compiled from the Property Information Pack including Record of Title OT15D/979 and all registered instruments, LIM Report LM251481 (18 September 2025), council property files (building and resource consents), floor plans, rental appraisals, and publicly available information. It is prepared for the internal use of Oliver Road Luxury Real Estate and its clients.

Prepared March 2026

4 Fishermans Lane

An Architect's Vision onLake Wakatipu