Petrac’s Redland Bay development for sale by receiver

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Reflecting the problems with bankers withdrawing finance, The Boulevard to Redland Bay, a Petrac development with the planned 430 ILUs, is up for sale by the receiver Grant Thornton. Michelle Gory of Grant Thornton reports that either Colliers or CB Richard Ellis will be appointed this week to handle the sale. The first ILUs were to be available for sale in 2007.