The 25 level / 116 apartment Grande Pacific Broadwater retirement village in Southport has had the receiver KordaMentha called in after selling just 20 odd units after 3 years of marketing. It has been completed for about 12 months. Costing $70 million to construct, it has a mortgage of $50 million to service. The average ILU/Apartment is well priced relative to the local market and the development regarded as top quality, calling into question the preparedness of the market for high rise villages.
Australias most significant high rise village in receivership
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