30 Nov 2011

Serepisos HQ up for tender

4:25 pm on 30 November 2011

The central Wellington headquarters of failed businessman Terry Serepisos is to put up for public tender.

Tenders for the purchase of ASB Tower close on 6 December.

A report by receivers Deloittes on Mr Serepisos's Central City Investments says the building has a rateable value of $34 million.

Mr Serepisos was declared bankrupt in September and a sell-off has begun of his extensive property empire to pay more than $200 million owed to 27 creditors.

If ASB Tower does not sell in December, the receivers will put it up for sale again in 2012.

A receivers' report into another of Mr Serepisos' companies, Century City Trust Ltd, says it owned shares in 21 companies but the liquidators found those shares were unlikely to be worth anything.

A report into the Wellington businessman's third company, Central City Holdings, is due out on Friday.