$16 million Wānaka house sale sets new local record

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PHOTO: Award-winning Te Kaitaka House is on Roys Peninsula, on Lake Wānaka. MARK SMITH

The sale of the Te Kaitaka House in Wānaka for $16 million to Australian couple Andrew and Emma Gray is notable for several reasons. Here are some key details about the property and the buyers:

The view from Roys Peak, over Glendhu Bay and Roys Peninsula. LORNA THORNBER

Property Description:
- The Te Kaitaka House is a four-bedroom, four-bathroom home located on Buchanan Rise, Roys Peninsula, in west Wānaka, New Zealand.
- The house was built in 2012 and was designed by Stevens Lawson Architects, who have received several awards for their architectural work.
- The property is known for its unique “floating, origami-style roofline” and its south-facing aspect, offering stunning views of the bay area.
- The house has been featured on the BBC program “The World’s Most Extraordinary Homes” in 2018.
Location:
- The property is situated in the “millionaire’s row” of west Wānaka, near Glendhu Bay. This area is highly sought after due to its proximity to the lake, skifields, and the beautiful natural landscape.
Buyer Information:
- The property was purchased by Andrew and Emma Gray, an Australian couple based in Sydney.
- Andrew Gray is a co-founder of Potentia Capital, an investment firm in the technology sector.
- He also served as the former chairperson of MYOB, a prominent software company.
- Andrew Gray’s LinkedIn profile indicates that he has over 25 years of experience in the technology private equity investment industry.
- He holds a Master of Business Administration (MBA) degree from Harvard Business School and a Bachelor of Aeronautical Engineering with first-class honors from the University of Sydney.
Wānaka Real Estate:
- The $16 million sale of Te Kaitaka House is a significant milestone in the Wānaka real estate market, as it marks the highest individual price achieved for a lifestyle property in the area.
- Wānaka is a sought-after location due to its natural beauty, proximity to skiing, and the privacy it offers.
- While some buyers are from overseas, the majority of property buyers in the area are New Zealanders.
- Other premium properties in the Wānaka region, including a $10 million section and a 5.5-hectare section at John’s Creek, near Hāwea, are also indicative of the high demand for properties in the region.

The sale of Te Kaitaka House at such a high price underscores the desirability of the Wānaka region as a luxury real estate destination, particularly for those who appreciate the natural beauty and privacy it offers.