- Barry Colman sold his Auckland waterfront estate to a foreign buyer under the Active Investor Plus scheme.
- The 2449sqm property features a five-bedroom home, indoor pool and underground garaging.
- Colman bought the land in stages for $2.3m, and had sale expectations of around $18m.
Barry Colman, the former publisher of the NBR, has sold his multimillion-dollar Auckland waterfront estate for an undisclosed amount to a foreign buyer.
Start your property search
The 2449sqm spread on Riddell Road, in Glendowie, boasts a luxurious five-bedroom historic home, a heated indoor swimming pool, underground garaging, and a lift.
New Zealand Sotheby’s International Realty listing agent Greg Dennerly confirmed the sale but declined to comment.
His colleague Pene Milne, who brought the buyer, told OneRoof that the purchase was under the Government’s Active Investor Plus scheme.
Changes to the “golden visa” rules – which took effect from March 6 – allow foreign investors to buy or build a New Zealand home worth $5m or more.
Barry Colman and wife Kati in 2012. The couple have found a new owner for their Glendowie mansion. Photo / Norrie Montgomery
Colman’s late wife Cushla Martini combed demolition yards for lighting and fixtures for the house in the multi-year renovation. Photo / Supplied
The owner tapped experts from Disneyland to find suppliers for the pool’s under-water lighting system. Photo / Supplied
“There was interest by the party late last year, and once the AIP dates were confirmed, they could finally start buying,” Milne told OneRoof.
Both Milne and Dennerly declined to comment on the purchase price for Colman’s mansion, telling OneRoof that the sale was not due to settle until the end of March.
Colman also declined to comment on the sale.
The rich-lister bought his Glendowie landholding in two stages. The first chunk he bought in 1989, the second in 1998. All up it cost him $2.3 million.
In a OneRoof article published in 2024, when the property first hit the market, Colman said he and his wife, Kati, had price “expectations around the $18m range”.
Discover more:
- Pipi’s Pizza cookbook author lists her beloved homestead
- Brit's clifftop mega-home sells for more than $20m
- Golden visa opens door to million-dollar 'castle in the clouds'
“It’s the first home on Auckland’s eastern shoreline to have direct access to the beach and able to be reached directly by road.”
Colman, who sold the NBR in 2012, is no stranger to real estate, having made his first fortune with the now-defunct Property Press magazine. He also made headlines in 2019 when he paid a then-record $9m for an architect-designed house in Oneroa, on Waiheke Island.
When Colman and his late wife, Cushla Martini, bought the house in 1988, they embarked on a multi-year renovation that Colman remembered “nearly sent her bats”.
“I overheard some of the full and frank discussions that took place when she rolled up her sleeves,” he told OneRoof. “I was glad my only role was to write the cheques.”
The rebuild respected the bones of the traditional house with its wide verandahs.
The lawn leads down to the beach. Photo / Supplied
The interiors were recently updated. Photo / Supplied
The large living room has sea views. Photo / Supplied
But modern updates included finding extra parking space for car-fan Colman: the garaging for seven cars is now dug into the hill behind the main house. Martini, who died in 2005, searched the world for experts who could execute her plan for underwater lights on the floor of the swimming pool under the glass conservatory (she eventually tapped Disneyland for their recommended supplier) and combed Dunedin demolition yards for antique fixtures and lighting.
Colman was surprised to find Kati was another “covert interior designer”. Together with designer Noelle Davies, she updated the decoration. “The work of compiling a project budget was a total waste of time, and I think the accountant was the only person who ever took it seriously – well, at the beginning anyway,” Colman quipped.
“I’m not sure how much was spent in the end, but I know the next owners will inherit a beautiful, comfortable home with the sea lapping on the virtually private beach outside.”
- Click here to find more properties for sale in Auckland
