James Cameron - James Cameron Snaps Up Land In New Zealand

The area, which features a freshwater lake teeming with eels, contains 2,500 acres of farmland in Pounui Ridge, where Cameron and his family hope to grow several crops.

The Titanic moviemaker plans to settle down there in the autumn (12) and eventually begin work on the upcoming Avatar sequels, which will be filmed at Peter Jackson's studios, where each of the Lord of the Rings films were completed.

But Cameron insists his fellow pal has nothing to worry about, telling the New York Times, "I'm not there to compete with Peter."

And the Oscar winner, who first grew attached to the country while plotting an expedition to Antarctica from South Island nearly two decades ago, insists he is even considering applying for citizenship, adding, "I've felt an attachment to the place since 1994."