Resort Corp receivers list oceanfront Townsville site for sale
Resort Corp receivers are marketing the troubled company's last major asset -- a vacant oceanfront site beside Jupiters Casino in Townsville.
It was consolidated at a $49.5 million cost in 2007 when bought from Consolidated Properties.
Receivers Ferrier Hodgson have listed the five-lot, 2.9-hectare Airlie Beach development site, which had been earmarked by Gold Coast-based company for its Saltwater apartment project on the Townville Breakwater.
Receivers and managers Greg Moloney and Will Colwell of Ferrier Hodgson have appointed Colliers International agents Steven McDonald, Neville Smith and Darrell Irwin to market the site on Sir Leslie Theiss Drive. with offers due September 22.
The holding, which has been subdivided to provide a driveway and five lots ranging from about 4,000 square metres to 9,000 square metres, is being offered for sale either in one line or as individual lots.
The original project was earmarked to develop 570 apartments and more than 1,000 square metres of retail space.
In 2007, Resort Corp boasted a development portfolio on the northern NSW and Queensland coasts totalling $1.35 billion.
Linked to Paul Brinsmead and Peter Madrers, the group was placed in voluntary administration in March 2009, declaring debts of more than $300 million.
The site failed to sell after an expressions-of-interest campaign in September 2010.
