Projects - Distressed Assets

Coral Cove Development No.4 Pty Limited



  • Master planned residential estate and golf course
  • Regional, QLD
  • Receiver for senior financier
  • Senior debt – AU$30m


  • Master planned, and development approved estate with a total balance area of 203 hectares with capacity for up to 916 new dwellings
  • PGA rated, 5,965m 18-hole golf course operating at a loss of approx. AU$400k pa with 10 full-time employees
  • Bordering on a decommissioned quarry, operator held a buffer lease over a portion of the land and refused to surrender it
  • Multiple approvals over the land during a lengthy period, complicated infrastructure agreement with Council
  • Various purchasers withdrew during the due diligence period


  • Leased the restaurant and function centre to a third party
  • Managed multiple national and international marketing campaigns
  • Improved offering by completing sewerage line works on the estate
  • Managed golf course operations through sale process
  • Increased membership fees on the golf course to reduce golf course loss


  • Achieved a sale and exit for financier

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