Pilot’s Restructuring partners, Ann Fordyce and Bradley Hellen, helped facilitate the highly successful sale of beachfront resort ‘Nobby’s Outlook’ for $23.75 million.
The sale of the vacant 46 apartment block located in Miami, Gold Coast, was a rare opportunity as an ocean-facing 7284 sqm site, prime real estate for developers.
The competitive auction attracted a crowd with 17 registered bidders in attendance generating 35 bids in total. The future of the site is unknown at this stage with the interstate buyer placing the final bid on behalf of a client declining to comment.
Ms Fordyce said, “the property sold above reserve and valuation which is a fantastic outcome for the owners and the Nobby’s Beach community”.
The lead up to this sale was the first of its kind in Queensland with the District Court ordering the termination of the Body Corporate for Nobby’s Outlook on 20 November 2013.
In 2016, the court appointed trustees Ms Fordyce and Mr Hellen to sell the property on behalf of the owners after the building’s body corporate successfully sought a court order from Queensland District Court to abolish the community titles scheme to enable the sale to occur.
“Pilot Partners are pleased to help put an end to the long-running saga to sell the property”, Mr Hellen said.
“We’ve helped the owners, many retirees, move on with their lives after more than a decade of failed attempts to sell”.
If you have any questions regarding the sale or Pilot’s services, please contact Ann Fordyce or Bradley Hellen at [email protected] or 07 3023 1300.