Shane Nicholson of Colliers advertised the six-story/77 ILU Serene Living development at Tweed Heads for sale with expressions of interest closing 21 November and the successful buyer, Fenton Norrie, kick started construction last week 18 weeks later. The cost of construction is $25 million+. The development was in receivership with Grant Thornton after multiple parties had attempted to put together a deal given it had 70% pre-sales, largely thanks to its location directly across the road from the Tweed Heads Bowling Club, the largest in Australia. The architect is Marchese Partners.
ATO plans to charge GST on manufactured home parks scrapped
A concerted effort by the Residents Association of manufactured home parks has headed off the ATO which had planned to impose GST in mobile homes. This would have added 10% to the cost of the purchase of a home