I expect Larry's to look more like this: (http://fc08.deviantart.net/fs71/i/2010/213/2/2/The_Eye_of_Sa...) :-)

It looks to be rather close to the sea, and at fairly low elevation?

It’s next to Lake Wakatipu, which is “310 metres (1,020 ft) above sea level at the lake shore”.

Not sure what the flood risk is, but it is surrounded by mountains.