136 or 137? who knows?

Well is it 136 or 137 and was it sold via an agent in 2011 as Hutson reported.

I'm amazed at the amount of things being being taken to market latterly.

Who remembers " this little Piggy went to market, this little Piggy stayed home"
May have been better if all of the pigs stayed home or even pis--d off.
How many ringmasters in this circus?

(The ringmaster, also called a ringleader, is the most visible performer in the modern circus, and among the most important, since they stage-manages the performance, introduces the various acts, and guides the audience through the entertainment experience.)

NSX RELEASE 12 May 2011


Mortgagee in Possession Contract –Dry Dock Road, Tweed Heads South

Wellington Capital Limited as responsible entity of the Premium Income Fund is pleased to announce that a contract has been exchanged in relation to the property located at 136 Dry Dock Road, Tweed Heads South.
The property, known as Reef Cove, was taken to market in November 2010 by Colliers International where it was passed in after it did not achieve the reserve price. It has now been sold via a local agent.
Reef Cove is security for one of the Fund’s mortgage loans.
The contract is subject to a 45 day finance condition, followed by a 60 day settlement and will contribute a net $7 million to the Fund on settlement.
Managing Director, Jenny Hutson said ‘the exchange of contracts on the Reef Cove property is a pleasing result. This is a positive outcome for the Fund’s Unitholders.’



137 Dry Dock Road, TWEED HEADS SOUTH NSW– Mortgagee in Possession
In October 2012, Castlereagh Capital Limited (“Castlereagh”) was appointed as agent for ARL, being the mortgagee in possession to the property located at 136 Dry Dock Road, Tweed Heads South.
This 7.6ha property includes a run-down building previously used as a tavern, associated sealed car parking area and large tidal lake of approximately 2.5 ha. The property had been unoccupied for a couple of years prior to our appointment and was in a state of general disrepair. Castlereagh arranged regular security patrols on the property to avoid further damages. Arrangements were also made in respect to garden maintenance services to address overgrown vegetation which was potentially a fire hazard.
A current valuation of the property was undertaken, following which a purchaser for the property was found through Castlereagh’s network of contacts. Contracts exchanged in April 2013 and the sale settled on 26 July 2013. The property was sold for $3.75M.

Then you may like to read this:-

http://www.goldcoast.com.au/article/2011/05/15/315351_gold-coast-business.html