Pakatoa Island in the Hauraki Gulf is being advertised for sale, with the owner expecting a price between $30 million and $40m.
The Dominion Post today reported that an advert in the newspaper said the 24ha island included "three white sandy beaches with riparian rights", a 15-minute helicopter ride from Auckland.
Businessman John Ramsey, of Crusader Meats, bought Pakatoa for $4.25m in 1994 and now had a price expectation of $30m to $40m.
Marketing agent Roger Seavill said the island had been "loosely available at a suitable price for some time".
"This is a more formal effort to reach whatever market there is."
He said Pakatoa had recently been listed by Colliers in its national portfolio and advertised nationwide, as well as to buyers overseas.
The island became the subject of controversy in the 1990s when German fraudster Ralf Simon tried to buy it, before he was deported from New Zealand.
