The fall of disgraced Wellington businessman Shaan Stevens may have reached a new low as his $4.65 million mansion enters a mortgagee sale.
The Kaiwharawhara home could now be sold at a knockdown price.
Stevens' family trust, which owns the property, has been trying to sell it since his conviction on more than 20 charges of fraud, tax evasion and attempting to pervert the course of justice in 2011.
The former executive director of consultancy firm Guinness Gallagher and chairman of Wellington Free Ambulance served 10 months' home detention at the sprawling home. He and his family have since left it, and he is believed to be living overseas.
Tommy's real estate agency was appointed to sell the house by the bank last month.
Tommy's Commercial general manager Chris Gollins said the capital may never have seen a property with such a high rateable value - $4.65m - go to mortgagee sale. However, he expected a much lower sale price, in the region of $2.5m.
Before his fall from grace, Stevens was eager to show off the home, which he had equipped with Microsoft automation software, making it "one of the most advanced homes in Australasia".
When the software company launched its Vista operating system in 2007, it held a champagne breakfast at the house.
A PC running Vista ran the home's hi-tech security, audio-visual systems and other gadgets, enabling control via mobile from anywhere in the world.
Stevens told The Dominion Post in 2010 that he had a flat-screen TV in every room except the bathroom, all linked to the system.
Many of the gadgets are now listed as chattels with the house, available by separate negotiation.
They include the full security system, with a night-vision camera system and panic room, three 42in LCD TVs and a 92in wall-mounted projector.
Other chattels include a greenstone water feature, a spa bath and a climate-controlled wine cellar.
The house is built over five levels with six bedrooms, three in a self-contained apartment. It also has two offices.
Tenders close on March 26.
- The Dominion Post