SA

Nicola Trotman | 28 November 2012

Equititrust's Wirrina Cove, South Australia, on the market under instructions

The troubled Equititrust's Wirrina Cove in South Australia is on the market again under instructions from David Whyte of BDO.

The resort, conference centre and surrounding land on South Australia’s Fleurieu Peninsula, 75 minutes south of Adelaide.

The 485-hectare property includes 89 hotel rooms, a convention centre, a golf course and a caravan park.

Other facilities include a restaurant, bar, café and a swimming pool.

Karen Seeto of Ray White Commercial is coordinating the sale in conjunction with Ray White Hotels, Ray White Marines, Ray White Mt Barker and Century 21 Normanville.

“This is the first time the whole complex has been offered to the market in separate titles and at the same time on behalf of the mortgagee,” says Seeto.

Also on offer are 76 residential land lots with settlements of up to 12 months available.

Some 100 long-term sub-leases of up to 35 years are also available for the marina.

Wirrina Cove Resort is still acting as a conference centre, hosting a number of state government events during 2013.

“The situation at the resort is encouraging and continues to improve on an ongoing basis,” says Keeto.

Recent court proceedings indicated it was cost $35,000 a week to keep the resort open.

Wirrina Cove is being offered through expression of interest, and offers close December 19.

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