Party pill godfather's house sold to local man

Matt Bowden, ex-party pills baron, at the Torbay property. Photo / Brett Phibbs, NZ Hera;d

Former party pills mogul Matt Bowden today watched the last of his properties go under the hammer.

Mr Bowden's family home, where he has been living for two years, sold to an Auckland man at a mortgagee sale for $1,829,000.

The modern four bedroom property on the rural outskirts of Auckland described by the auctioneer as a fine "prop-ortunity" was sold as liquidators try to recoup at least $1.42 million in debt from his company Stargate Operations, including an $850,000 bill to IRD.

The property has a current valuation of $1,460,000.

Mr Bowden said he was sad to see his home sell but was pleased it had fetched a good price.

"We bought the property because we wanted to live a simple life in the country... At least it sold at valuation."

Mr Bowden is known for introducing party pills to New Zealand. He later moved into importing and manufacturing synthetic cannabis. He also makes music under the stage name Starboy.

Mr Bowden told the Herald his intention was to develop safe alternatives to alcohol and other substances.

"I've spent nearly 20 years advocating for quality and evidence-based products."

The home was bought by an Auckland IT businessman who intends to live in the property with his young family.

Harcourts agent David Savery said he had 240 enquiries about the property - the most he'd had in the past 25 years.

"It was a good result," he said.

"There was about 40 parties involved and eight or nine that partook [in the auction].

"It sold well above the CV - and that's exclusive of chattels."

Mr Bowden's North Shore waterfront property at 80 Cliff Rd, Torbay recently fetched $1.985 million. Mr Bowden paid $2.55 million for the 3500sq m property in February 2013 and it has a current CV of $2.6 million.

His other property, a four-bedroom 1960s house in Browns Bay, sold recently for $895,000 - $145,000 above its CV.

Mr Bowden, who has two young children, was unsure where he'd go next but said he hoped to make psychotherapeutic products, which would improve neural processing and social interaction.

Liquidators said "all tangible assets" of Stargate Operations had been sold and demands had been issued for amounts outstanding.