Wellington Property Linked to Terry Serepisos Heads to Mortgagee Sale without Reserve

PHOTO: Terry Serepisos. FILE

Former developer, television host, and football club owner Terry Serepisos‘ ancestral residence has been listed for a mortgagee sale with no minimum price.

Terry Serepisos’ Mother Once More Confronts the Prospect of Eviction Following Soured Business Deal

Real estate listings attribute the sale of the four-bedroom house in Wellington, along with an extra one-bedroom flat, to High Court proceedings. However, prospective buyers are advised that the property at 91 Nevay Rd, Miramar, cannot be visited for open house viewings.

The sellers emphasize that there will be no minimum bid at the auction, which means this iconic home could be a fantastic deal for Wellington buyers. They strictly permit roadside viewings only.

This property is characterized by its incredible sunlight, breathtaking views, and a prestigious location. Property records indicate a rateable valuation of $2.38 million, with two existing mortgages on the property.

In May of the previous year, Terry Serepisos placed a caveat on the property.

Former bankrupt property tycoon and TV star Terry Serepisos back in business

Nearly two decades ago, Serepisos rapidly built a significant property portfolio in Wellington, gained national recognition through his ownership of the Wellington Phoenix football club, and made a venture into television as the host of the New Zealand edition of The Apprentice. However, in 2011, he declared bankruptcy with debts totaling $203 million.

Terry Serepisos’s mother declared bankrupt

For a considerable period, the Nevay Rd property served as the residence of Terry Serepisos’ mother, Aliki Serepisos, who also declared bankruptcy in 2020. The property’s current owner is listed as a trustee company, Nevay Nominees, but this entity has been in liquidation since May.