Terry Serepisos' house sold for $1.85m

03:03, Nov 05 2012
Terry Serepisos
Terry Serepisos at his former home in Roseneath.
Terry Serepisos' former home
Terry Serepisos' former home in Roseneath.
The gym area of Terry Serepisos' former home
The gym area of Terry Serepisos' former home
Terry Serepisos' former home
The view from Terry Serepisos' former home in Roseneath.
Terry Serepisos' Roseneath home
Terry Serepisos in his former home in Roseneath.
Terry Serepisos' Roseneath home
Terry Serepisos' former Roseneath home is up for sale on Trademe.
Terry Serepisos' Roseneath home
This Roseneath home, formerly owned by Terry Serepisos is now up for sale on TradeMe.
The inside of Terry Serepisos' former home in Roseneath.
The inside of Terry Serepisos' former home in Roseneath.

Wellington businessman Neville McAlister is the new owner of bankrupt property developer Terry Serepisos' former Roseneath home.

Quotable Value records that the 420 square metre home, which was put up for mortgagee sale earlier this year, was purchased in September for $1,850,000 - $350,000 more than its 2009 rating value.

Mr McAlister is a prominent race horse owner, a partner in the Shoe Clinic and he and his wife operate the Platinum Lodge Bed and Breakfast at Judgeford, Porirua.

The multi-storey Robieson St home, on the eastern slopes of Mt Victoria overlooking Evans Bay,  sold on the instructions of Asteron.

Mr Serepisos was made bankrupt in September last year, owing more than $200m. 

Two of his other Roseneath homes and his Queenstown holiday home were sold in mortgagee auctions last year and most of his extensive portfolio of Wellington commercial properties have also been sold by receivers.

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