An Australian marina development project has been put up for sale after the country’s New South Wales Supreme Court appointed liquidators.
The Gateway Marina, Burnett Heads, is being marketed by Colliers, on behalf of Todd Gammel and Barry Taylor of HLB Mann Judd who have been appointed as receivers and managers of BH Holdings QLD Trust and BH Developments QLD Trust and liquidators of BH Holdings QLD Pty Ltd and BH Developments QLD Pty Ltd.
An estimated $7.9 million is said to be owed to creditors.
The Gateway Marina development was anticipated to transform the area, however there had been mixed reaction from the community.
The project had approvals for a 318-berth marina, luxury waterfront apartments, a yacht club and retail spaces.
Work began in 2022 but it is believed there was a dispute between the company directors over funding and work ceased in 2023.
The NSW Supreme Court appointed liquidators and receivers earlier in 2024.
The assets now up for sale via expressions of interest include a freehold waterfront lot, a series of town planning approvals and other rights that taken together form the Gateway Marina Project.
According to the agents, the Gateway Marina Project has been designed to produce a high-quality, mixed use marina village located within the Burnett Heads Boat Harbour.
“The Gateway Marina Project is situated at the mouth of the Burnett River, on the southwest shore of Burnett Harbour,” the details state.
“The sheltered north-facing marina provides deep water access with wide fairway distances protected by an already constructed break wall offering year-round and all-weather protection.”
Burnett Heads is around 15 minutes from the regional centre of Bundaberg.
