And while the global media industry is struggling with falling advertising revenue and widespread layoffs, the Remix owner last month splashed out on a vacant West End Rd section on the shoreline of Coxs Bay.
The 1000sq m site is just a few doors down from the $26m mansion owned by rich-listers Anna Mowbray and Ali Williams.
Its $11.2m price tag includes plans for a luxury five-bedroom, three-bathroom home designed by architect David Ponting, complete with its own boat ramp.
The vendor was Auckland property developer Jason Ellingham, who also owns the neighbouring $5m home where a worker was crushed to death during construction in 2023.
In an unusual deal, Ellingham has agreed to build Phin’s new home as part of the purchase price. It’s understood Ellingham had planned to build the house for himself but his plans changed.
The vacant site had been on the market for about a year until the contract was inked with Phin.
The Herald sought comment from Phin about the timeline for the build, what attracted him to the site, and how a media company owner could afford his lavish property portfolio.
He declined to comment.
However, a Society Insider source told the Herald Phin’s long-time partner, digital designer Carl Thompson, was believed to have made millions selling a business several years ago and the pair had been living “hugely extravagantly”.
“With the magazine, everything is sponsored – airfares, hotels, and [Phin] leverages it like that.”
The property was sold by Bayleys agent Cristina Casares.
She told OneRoof that Ellingham was a long-time admirer of Ponting’s work and had enlisted the architect to create a private residence with strong architectural form, worthy of the extraordinary setting.
The five bedrooms were on the top floor, with the ground floor reserved for the living spaces, which flowed out to the pool, spa and sweeping, flat lawns.
Ponting told OneRoof the inspiration always came back to nature and the home was a homage to the harbour.
“It would have been insane to do anything other than engage with that and do so in such a way that you feel could reach out and touch the water and feel completely immersed in that context.”
Works commence on $11.2m vacant site
Works on the site have recently commenced, with contractors rebuilding a rock seawall around the property.
A resource consent has been issued for the work and rebuild of the existing boat ramp, which sits on land unlawfully reclaimed more than 100 years ago.
The consent decision says ordering the site to be returned to its original form would cause more harm than good due to sediment runoff caused by removing such a large amount of soil and fill.
Part of the site will be designated public reserve, with the owner required to safeguard public access, the decision says.
Auckland Council says a resource consent for the new dwelling was granted in 2022 and the Herald understands construction is due to start shortly.
Lane Nichols is a senior journalist and Auckland desk editor for the New Zealand Herald with more than 20 years’ experience in the industry.
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