The Melbourne based but Perth funded developer of Carnegie Cove, Australian Retirement Group, is in receivership with Ernst & Young. The 400ha project has been stalled for at least 4 years in part due to inadequate sewerage and water services being available in its Bonny Hills area of Port Macquarie. It goes to auction this weekend. There is development approval for 104 ILUs.
Ryman Healthcare CEO Richard Umbers quits
In February, the company cut its full year profit forecast to between NZ$265 million and NZ$285m on disappointing sales and margins