Whanganui Chronicle
  • Whanganui Chronicle home
  • Latest news
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology

Locations

  • Taranaki
  • National Park
  • Whakapapa
  • Ohakune
  • Raetihi
  • Taihape
  • Marton
  • Feilding
  • Palmerston North

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • New Plymouth
  • Whanganui
  • Palmertson North
  • Levin

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Whanganui Chronicle

Property magnate pays up

By John Maslin
Whanganui Chronicle·
22 Nov, 2012 06:34 PM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Property developer CJ Efstratiou has cleared his debts with the Wanganui District Council - all up a total of $354,296.

That includes rates arrears of $161,693 and $192,603 that was a loan arrangement Mr Efstratiou had with the council to buy the former council carpark in St Hill St, between Maria Place and Ridgway St.

The clean slate was tabled at the council's strategy and finance committee meeting this week.

Julian Harkness, the council's finance and corporate services manager, said the payment made good all rates arrears and mortgages.

Mr Efstratiou, one of the city's largest property owners, had owed the council more than $214,000 in overdue rates and penalties and had recently started paying for the carpark he bought in 2005.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

In all, the English property developer owned 24 central-city properties with a combined land and built value of $22.5million.

The rates arrears related to 17 inner-city properties.

In January 2005, he took possession of a former St Hill St carpark, settling on a purchase price of $228,375.

Advertisement
Advertise with NZME.

Council finance was provided by way of a 10-year loan secured by a mortgage, with repayments due to start in March 2007.

Since then, the council had given Mr Efstratiou two time extensions as well as shortening the term of the loan from 10 years to eight years. He began repayments in June this year.

Final payment on the remaining $192,000 was not due until May 2020.

Save

    Share this article

Latest from Whanganui Chronicle

Whanganui Chronicle

Earthquakes every six to seven minutes detected under Mt Ruapehu

08 Jul 10:48 PM
Whanganui Chronicle

'Serious shortcomings' in pilot academy management and systems - authority

08 Jul 06:00 PM
Whanganui Chronicle

Health NZ stops funds for Fit for Surgery programme

08 Jul 05:01 PM

From early mornings to easy living

sponsored
Advertisement
Advertise with NZME.

Latest from Whanganui Chronicle

Earthquakes every six to seven minutes detected under Mt Ruapehu

Earthquakes every six to seven minutes detected under Mt Ruapehu

08 Jul 10:48 PM

Volcanic tremor remains low; Mt Ruapehu is at Volcanic Alert Level 1.

'Serious shortcomings' in pilot academy management and systems - authority

'Serious shortcomings' in pilot academy management and systems - authority

08 Jul 06:00 PM
Health NZ stops funds for Fit for Surgery programme

Health NZ stops funds for Fit for Surgery programme

08 Jul 05:01 PM
'The truth will come out': Scott Guy's parents speak 15 years after unsolved murder

'The truth will come out': Scott Guy's parents speak 15 years after unsolved murder

08 Jul 09:03 AM
Solar bat monitors uncover secrets of Auckland’s night sky
sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Whanganui Chronicle e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Whanganui Chronicle
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Whanganui Chronicle
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • NZME Events
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • © Copyright 2025 NZME Publishing Limited
TOP