Ralan's Budds Beach Sapphire twin tower development site listed by mortgagee
Staff reporterDecember 7, 2020
The collapse of the Ralan Group earlier this year has triggered the listing of a 11,470 square metre Gold Coast development site.
It was set to have been a twin-tower luxury development.
The Budds Beach site had been earmarked for the Sapphire twin tower development of 71 and 33 storeys, totalling 1000 apartments plus retail.
The site is bordered by Norfolk, Pine, Oak and Ferny avenues close to Surfers Paradise.
It is being offered as an entire lot or as individual properties through Knight Frank under instructions from Deloitte appointed by the mortgagee.
The administrators have been investigating the legality of Ralan Group's use of released deposits from pre-sale contracts.