HAHA, This NSX announcement definitely was not posted when I made my previous post relating to KOORALBYN RESORT and I have just now received a response from Wellington capital limited. Is all WC Premium Income Fund related correspondence restricted to NSX announcements? Is Murray Bailey and his sonsortium is still living in hope of the Boonah-Kooralbyn-Beaudesert "Scenic Rim Tourist Link Road" going ahaed in the near future before committing to the original contract?
http://www.nsxa.com.au/ftp/news/021724850.PDF
Mortgagee in Possession Sale: Kooralbyn Resort
Wellington Capital Limited as responsible entity of the Premium Income Fund advises that an extension of
the conditions date has been granted to the purchaser of Kooralbyn Resort so that the purchaser can continue
finalisation of due diligence for the property.
Key dates
Description Revised Date
Conditions Date May 2012
Settlement Date January 2013
The transaction is anticipated to return net proceeds of approximately $22 million to the Premium Income
Fund.
The asset is significant and complex and due diligence is taking the proposed purchaser longer than
originally anticipated.
It remains the incoming purchaser’s intention to undertake a full refurbishment of the property and re-open it
as a premier, 5 star tourist destination and seek to optimise the residential opportunity within the resort area
over time.
Premium Income Fund
OCV
octaviar limited
