Celebrity Traitors star Kate Garraway sells dwelling for £1.7 million – making at the least £1m revenue – as she fights money owed of £800k after Covid demise of husband Derek Draper
Celebrity Traitors star Kate Garraway has finally sold her second home for £1.7 million, making a huge profit – as she battles with debts of £800,000 after caring for her late husband Derek Draper.
The Land Registry website has confirmed the sale of the stunning Georgian terrace, in Islington, north London, which Kate, 58, bought with Derek for £550,000 in May 2004.
There was a mortgage taken out on the property with the Royal Bank of Scotland in 2016. If this was no more than what Kate and Derek paid for the luxury pad, then Kate should make a healthy profit of over £1 million minus taxes.
Kate and Derek lived in a five-bed home in Muswell Hill while she rented out the Islington property for £6,750, which was advertised on Open Rent.
It features three bedrooms and two bathrooms over three floors, a private garden and a rooftop.
The sale will be welcome news for Kate, who was left owing £800,000 for the care of Derek, who tragically died from Covid complications in January 2024 after a four-year battle at the age of 56.
It’s not clear from reports if this is a personal or company debt – and, thus, who is liable.
Kate recently starred as a Faithful on Celebrity Traitors, but was banished from the castle in last Thursday’s episode when other players wrongly suspected she was a Traitor.
The sale will be welcome news for Kate, who was left owing £800,000 for the care of Derek (left), who tragically died from Covid complications in January 2024 aged 56
It comes as she battles with debts of £800,000 after caring for her late husband Derek Draper
Kate starred as a Faithful on Celebrity Traitors, but was banished from the castle in last Thursday’s episode when other players wrongly suspected she was a Traitor
The journalist, whose chosen charity was not named, said that she couldn’t understand why she came under so much speculation from her fellow Faithfuls.
She said on Friday’s show of Good Morning Britain: ‘It’s really intense, those Traitors probably had a very tough time, you’re with a group of incredible people and you’re having to lie, deceive and murder them. I was completely myself all the way through, I thought it’d be easier’
Kate added: ‘I was absolutely flabbergasted that they were suspicious of me, I thought, I must be the least suspicious person in the world.’
Last year, there were reports that Kate may have to sell the Muswell Hill home to repay the debts with one source saying: ‘It is so sad for Kate. Not only has she had to watch her beloved husband suffer for almost four years but her financial worries have never been far away from her thoughts.
‘It has cost hundreds of thousands of pounds to look after Derek and do everything she could to get him better but it’s left her struggling.
‘The house is about all she has left financially and she is now facing up to the fact it might have to be sold.’
To add to Kate’s financial mire, three of the couple’s businesses went bust owing over £1.5million – much of that to the taxman.
Derek’s pyschotherapy firm Astra Aspera Ltd – which was jointly controlled with Kate – was forced into a creditors voluntary liquidation three years ago, owing hundreds of thousands to creditors, including a huge sum to HMRC.
According to the latest liquidator’s report, HMRC has submitted a preferential claim of £288,054.
Celebrity Traitors star Kate Garraway has finally sold her Islington second home (pictured) for £1.7 million, making a huge profit
There are also creditor claims of £196,548 from four other firms, including a £50,000 bank loan.
There will be no payout for any creditor after liquidator fees of £32,000 and 40 per cent of assets has been realised.
But Kate has been paying back some of the debt.
The directors’ loan account was overdrawn to the tune of £139,849, but the liquidator, Greenfield Recovery, hired solicitors, The Wilkes Partnership, ‘to assist in the recovery… and the sum of £21,000 has been received in this report period’.
In 2012, two other firms jointly controlled by Derek and Kate went bust.
Fulfill Media Ltd had debts totalling £922,807, which included £88,486 owed to HMRC, £90,882 to trade creditors, and £462,808 in ‘third party loans’.
At the same time, Countrymouse Media Ltd, was liquidated owing £189,121, which included £98,944 to the taxman and £48,000 on an overdrawn directors loan account. Derek and Kate were both personally owed £24k each by the business.
The Daily Mail has contacted Kate’s representatives for comment.
