Jamie Mcintyre's Secret Valley Estate court ruling

Jamie Mcintyre's Secret Valley Estate court ruling
Jamie Mcintyre's Secret Valley Estate court ruling

ASIC's proceedings in the Federal Court of Australia against companies associated with Jamie McIntyre and the 21st Century Group continue in relation land banking schemes alleged to be unregistered managed investment schemes

The latest court hearing refused an application by the McIntyre respondents to vary earlier undertakings which would have enabled the fourth respondent (Secret Valley Estate Pty Ltd) to settle the purchase of land.

ASIC alleges that the land banking schemes are unregistered managed investment schemes and that the 21st Century Group companies and Mr McIntyre have been unlawfully carrying on an unlicensed financial services business.

The five schemes are promoted and advertised as:

  • Botanica, located at 805 Archer Rd, Kialla, Victoria 3631
  • Secret Valley Estate, located at  955, Old Sydney Road, Bylands, Victoria 3762
  • Oak Valley Lakes Estate & Resort, located at  124 Booth Road, Brookhill, Townsville, Qld 4816.
  • Bendigo Vineyard Estate & Resort, located at  51 Andrews Road, Bendigo, Victoria 3551
  • Melbourne Grove Estate, located at  1491 Dohertys Road, Mount Cottrell, Victoria 3024

Jamie McIntyre, the CEO of 21st Century Property released his Secret Valley development land banking project last November.

Set 45mins from Melbourne CBD, it was known as Secret Valley in Wallan.  

The Secret Valley Estate in Wallan was described as 258 acres of "breath taking, beautiful landscape and picturesque views of the Macedon Ranges."

Land banking Melbourne options in Secret Valley started at $25,000 for a 1 acre superlot.

 land banking melbounre secret valley

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Asic Land Banking

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