David Marriner Pays $35 Million For Port Douglas Sheraton Mirage

THE Sheraton Mirage in Port Douglas has sold for $35 million to Melbourne investor David Marriner.

The sale price is far less than the $90 million reportedly initially sought for the hotel, which at its peak accommodated some of the world’s highest profile business identities and celebrities.

Mr Marriner told the AFR, which reported the deal, that he plans to lodge a development proposal “that would be the catalyst for the recovery of the Port Douglas tourism sector.”

He said the hotel has been a flagship for Australian tourism for 25 years.

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Thakral Pulls Two Assets From the Market

THAKRAL Holdings has pulled two major assets from the market after they failed to generate buyer interest. The assets – the Sofitel Gold Coast and Oasis Shopping Centre – were expected to fetch about $200 million. Funds would have cut gearing and reinstated distribution. Managing director John Hudson is reported in the AFR as saying

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Valad to Sell Sheraton Noosa Resort and Spa Complex

VALAD Property Group is expected to take a hit from the sale of its Sheraton Noosa Resort and Spa facility (right) at Noosa Heads.

Valad paid $93.6 million for the asset in 2007, but its value has fallen to about $85 million.

The unrenovated complex opened in 1989 and is on a 9946 square metre site with a private mooring facility on the Noosa River.

It includes 176 rooms, suites and villas, seven shops and five food and beverage outlets.

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Valad May Make Loss From Sale of Sheraton Noosa Resort and Spa

VALAD Property Group is expected to take a hit from the sale of its Sheraton Noosa Resort and Spa facility at Noosa Heads.

Valad paid $93.6 million for the asset in 2007, but its value has fallen to about $85 million.

The unrenovated complex opened in 1989 and is on a 9946 square metre site with a private mooring facility on the Noosa River.

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Control of Noosa Resort Seized by Receivers

RECEIVERS McGrath Nicol has been appointed to seize control of a major, high profile resort developed by two major, high profile property institutions.

Suncorp Bank is seeking that a $43 million line of credit be repaid by Viridian Noosa Pty Ltd.

Viridian controls a $300 million resort by the same name, and operated by Outrigger. Leighton Properties and Macquarie Real Estate developed the five star resort which was completed last year.

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