$40 million Pakatoa Island no longer for sale: owner John Ramsey

Pakatoa Island: On the market for years at $40 million but no longer being advertised for sale. Photo / Barfoot & Thompson

It sparkles in the Hauraki Gulf in these warm days, its beaches golden under the sun, but you can’t land on this 24-hectare paradise because it’s privately owned - and likely to stay that way for the foreseeable future.

The owner of Pakatoa Island, advertised for sale since 2006, says it is now no longer available.

Meat industry entrepreneur John Ramsey is in the rare position of having one of the few privately owned islands in the gulf.

Pakatoa, once a Salvation Army-run retreat for alcoholics, is surrounded by islands in the Crown estate, under Department of Conservation control.

Advertising of the island began about 2006, when $20m was initially sought. In more recent years, that climbed to $40m.

Bayleys’ 2018 marketing said: “One of the only privately owned islands in New Zealand is still for sale and able to be purchased by a private owner, syndicate, corporate entity or hotel group. Let your mind get carried away with the thought of what you could do with this beautiful piece of real estate.”

The island is 75 minutes by ferry, or 15 minutes by helicopter, Bayleys said .

It has three white sandy beaches, a wharf capable of landing commercial ferries and many existing buildings “held in a time warp but ready for new life”.

But the island no longer appears in the lineup of New Zealand’s most expensive property.

Ramsey today said he had pulled all advertising for the island about two years ago because there was no point continuing.

“I decided to keep it. It’s no good putting the money in the bank. One day, I will sell it. But I don’t want the money for anything because I’ve got nothing to invest it in.”

John Ramsey bought Pakatoa for $4.25 million in 1994 and lived there with his family when it was still a functioning hotel.

Ramsey bought Pakatoa for $4.25m in 1994 and lived there with his family when it was still a functioning hotel.

He made his money from his international lamb and mutton exporter business Crusader Meats of Benneydale, 35km southeast of Te Kuiti.

But don’t think Ramsey lounges around on his island during the summer break.

He’s still doing today what he’s done for years: working as a farmer. He was busy on his Clevedon farm yesterday, dagging ewes and spraying them for flies “because the flies are bad with all this muggy weather”.

His business owns five substantial farms, including properties at Clevedon, Glenbrook, Benneydale and a deer farm in the Rotorua area.

Some of the many buildings on Pakatoa Island.

His business says: “Supplying top quality lamb, mutton, venison, goat, pelts and wool to the discerning global market continues to be the focus for family-owned Crusader Meats.”

Products are exported to Europe, Britain, the United States, Canada, Japan, Mexico and the Pacific area.

Ramsey - Francis John Ramsey, according to Companies Office records - lives at Maraetai. F J Ramsey owns the highly productive Crusader business. That company is in turn owned by Ramsey and Lila Bernice Ramsey.

As for his island, Ramsey said about 15 family members had holidayed on Pakatoa around Christmas time, “some of them coming and going, going to the other half”.

So did he ever get anyone interested lately, when it was advertised?

“Yes, one guy but he pulled out at the last minute. Oh well, better off just keeping it at the moment,” he said - before returning to the ewes.

Anne Gibson has been the Herald’s property editor for 23 years, has won many awards, written books and covered property extensively here and overseas.