Bankrupt property developer Terry Serepisos' $1.5 million former Roseneath home in Wellington has been listed for mortgagee sale.
The five-bedroom 1980s house was listed on Trade Me yesterday under the tagline "King of the castle", to be sold by tender. It has two large living areas, a gym, five bedrooms and four bathrooms.
The rateable value of the 420-square-metre property at 11 Robieson St was $1.5m in 2009 and the rates would cost nearly $7000 a year.
One of his other Wellington homes, a 1950s house at 21 Robieson St, sold for $660,000, well over its $590,000 rating value. The other, a "character bungalow" at 23 Robieson St, went for $705,000 - under its $960,000 rating value.
His Queenstown holiday home was sold for $1.01m, which was $440,000 less than its rating value.
- © Fairfax NZ News
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