MARINA MIRAGE IN RACE TO FIND BUYER

Written on the 9 August 2010

MARINA MIRAGE IN RACE TO FIND BUYER

THE designer showcase that is Marina Mirage has hit the financial wall following a collapsed $90 million sale of the iconic Broadwater property.

The centre, which undertook an ambitious marketing campaign as part of its rebranding strategy last year, is now in receivership.

Owner Fenix Real Estate splashed $40 million on a lavish refurbishment last year.

The company bought the property from the failed MFS group in 2005 for $40 million.

Marketing agent Stewart Gilchrist, of Colliers International, remains confident that a buyer will be found for the landmark centre.

Marina Mirage was developed by the late businessman Christopher Skase in 1988.

 

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