Barry Colman, the rich-lister who launched The NBR Rich List, is selling his multi-million-dollar Auckland waterfront estate.
Colman picked up 511-513 Riddell Road, in Glendowie, in two bites. The first chunk of the estate he bought in 1989, the second in 1998. All up it cost him $2.3 million.
The property now has a CV of $11.2m, but Colman and his wife Kati are expecting a lot more.
“We have expectations around the $18m range,” he told OneRoof.
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“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.”
The 2449sqm estate includes a luxurious five-bedroom historic home, a heated indoor swimming pool, underground garaging, and a lift.
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It sits on a street of some of New Zealand’s most expensive homes, including the sprawling mansion owned by billionaire Graham Hart, but Colman said his was one of the few on the beach.
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.
Kellands agent Martin Dobson, who is marketing the property with colleague Charles Collins, said you would have to go outside Glendowie to find anything comparable.
“It’s just got a magnificent feel and has been beautifully restored to the level it deserves,” he said, adding that the second property at 511 Riddell Road had a lot of flexibility for further redevelopment.
“You are literally in a world of your own when you get down there. It is just quite spectacular.”
Barry Colman and wife Kati in 2012. The couple are selling up and downsizing. Photo / Norrie Montgomery
The late owner Cushla Martini combed demolition yards for lighting and fixtures for the house in the multi-year renovation. Photo / Supplied
When Barry and his late wife Cushla Martini bought the house in 1988, it had been the holiday home for British entrepreneur Henry Partridge. Partridge bought the land in the 1920s, but it wasn’t until the 1960s that he brought in draught horses to haul timber down a rough track off Riddell Road to build the beachside holiday house.
In 1990, Martini kicked off a multi-year renovation of the property that Colman remembers “nearly sent her bats” as she managed a small army of tradies.
“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 owner tapped experts from Disneyland to find suppliers for the pool's under-water lighting system. Photo / Supplied
The lawn leads down to the beach. 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”. She has, with the help of designer Noelle Davies, updated the decoration, completing it two years ago.
Budget, it seemed, went out the window this time, too. “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.
The interiors were updated two years ago. Photo / Supplied
The large living room has sea views. Photo / Supplied
“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.”
The couple are now downsizing and moving to a Parnell apartment, also extensively renovated by Kati, Colman said.
- 511-513 Riddell Road, Glendowie, is for sale for price by negotiation
