Record price expected for Bill Papas’ waterfront holiday home

·

Liquidators are pressing ahead with the sale of alleged fraudster Bill Papas’ luxury holiday home on the NSW Central Coast, The Sydney Morning Herald reports.

The Hamptons-style home in Wagstaffe is expected to set a record for the region, with agents at Central Coast Belle Property putting a $12 million to $15 million price tag on the waterfront property.

It wouldn’t be the first time the property has set a record for the Central Coast – it made history when it sold to Papas for $9.5 million in 2020.

READ MORE: Liquidators of Bill Papas’ Forum Group sell off waste machines built by subsidiary.

Papas’ house at 6 Bulkara St, Wagstaffe.

This comes just days after Papas’ Rozelle home sold for $4.4 million by agents from CobdenHayson Balmain, acting on behalf of liquidators from McGrathNicol.

Mr Papas’ other holiday home on Bulkara Street in Wagstaffe is also expected to hit the market in coming weeks with a $9 million price tag.

The majority of Papas’ Forum empire was placed into liquidation last year amid allegations in a civil proceeding brought by Westpac and two other lenders, Sumitomo and Société Générale, that Papas had presided over a $500 million fraud on the business.

READ MORE: NSW Financial Crimes Squad opens investigation into Bill Papas and Forum Finance.

Source: The Sydney Morning Herald.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Pontoxeniteas NSW celebrates community, culture and generosity at 2025 Winter Wonderland

Celebration swept through The Grand Roxy on Saturday, May 31, as Pontoxeniteas NSW hosted its spectacular Winter Wonderland Gala 2025.

GCM prepares for AGM as Board elections and revenue outlook take centre stage

The Greek Community of Melbourne has officially announced that its Annual General Meeting will be held on Sunday, 15 June 2025.

Raptis sisters left devastated as SA music school faces second government acquisition

Koula and Mary Raptis are “devastated and heartbroken” after learning their music school, Allegro Music, is to be acquired by the government.

Jon Adgemis vacates luxury Sydney mansion amid legal battle over his mum’s home

Disgraced former KPMG dealmaker Jon Adgemis has vacated the $20,000-a-week Point Piper mansion dubbed the "Bang & Olufsen house."

Australian Hellenic Choir delivers a stirring musical journey at ‘A Portrait of Greece’ in Sydney

The Australian Hellenic Choir captivated a packed Sir John Clancy Auditorium at the University of New South Wales on Sunday, June 1.

You May Also Like

Sydney Olympic FC emerges victorious at inaugural Hellenic Cup in Brisbane

The first-ever Hellenic Cup 2024 witnessed Sydney Olympic FC clinching the title in Brisbane on Australia Day long weekend.

Rita Manessis’ Melbourne home vandalised over support for Palestine

Rita Manessis' Melbourne based home was targeted in what has been labelled as a 'disgusting' graffiti attack over her support for Palestine. According to 7News,...

Nick Kyrgios fuming as world No.1 Jannik Sinner avoids doping ban

Nick Kyrgios condemned the International Tennis Integrity Agency for clearing Jannik Sinner after testing positive for doping twice.