Noel Edmonds says he’s “haemorrhaging money” at his New Zealand estate as his ITV show launches.

Noel Edmonds says he’s “haemorrhaging money” at his New Zealand estate (Image: ITV)

Noel Edmonds has revealed he is “haemorrhaging money” at his £15million New Zealand estate just as his new reality series, Kiwi Adventure, is set to launch on  ITV. The former Deal or No Deal host, 76, who permanently left the UK in 2018, is now facing financial turmoil at his £15million estate, River Haven. The sprawling property includes 12 buildings, a vineyard, and a pub cheekily named The Bugger Inn. But the TV star says his dream venture is bleeding cash thanks to relentless rain keeping customers away.

“We’re haemorrhaging money at the moment,” Edmonds says in dramatic scenes filmed for episode two of Kiwi Adventure. “When you come to New Zealand, you change your view about your relationship between the weather and the economy,” he continues. “We’re haemorrhaging money at the moment because you have to take staff on in anticipation of the guests coming. We’re going to have to have a spectacular November and December to balance the books.”

Noel is now facing financial turmoil at his £15million estate, River Haven (Image: ITV)

The father-of-four bought the property after relocating with wife Liz and has since opened the doors to cameras for the fly-on-the-wall docuseries, which follows his efforts to build a new life far from his former fame.

But it hasn’t all gone to plan. In the show, Edmonds is seen stood outside as the rain pours down on an empty pub garden.

“New Zealand is a great place to come to but it’s not the easiest place to set up a business,” he admits.

“We’ve done a fascinating thing with the River Haven adventure. Will it be the move that sustains us for years to come? Watch this space!”

Despite the money woes, Edmonds says he remains hopeful that things will turn around.

“I believe in the cosmos. I believe everything happens for a reason,” he says. “Just struggling at the moment to come up with a good reason here!”

Edmonds bought the property after relocating with wife Liz (Image: ITV)

He also reflects on the choice to leave the UK behind for good: “When people say to me, ‘What do you miss at the UK?’ I find myself going back to why I left.

“Because all the things I miss about Britain are the reasons I left. By that I mean that the country changed so much, so fast, so fundamentally, that I found myself missing a quieter country… We are not trees so you can move.”

Liz adds that their new business wasn’t something they had planned.

“None of this was planned. None of it was planned at all. There was no plan whatsoever to buy a vineyard and do this. I don’t know it was just a feeling of we could work on this, we could develop this.”