Pacific Bay Resort, Coffs Harbour, NSW.

 

Cnr Pacific Highway and Bay Drive, Coffs Harbour

                       

CMF Appointment:    Joint Venture

                                    Redesign of Resort and Master Plan

                                    On-Sale

 

In JV with Multiplex Constructions CMF took a principal role in purchasing the property, managing the re-design of the resort master plan and arrange the on-sale of the resort to Thakral Holdings.

 

The development was undertaken by local investors who had a vision for the development of over 500 apartments, 18 hole golf course and a five star resort. Unfortunately economic conditions did not hold and only a portion of the original design was developed.

 

CMF in JV with Multiplex optioned the purchase of the site subject to a redesign of the master plan. CMF then undertook a redesign of the master plan and obtained Council approval. The redesign provided a much improved economic out come with the sale of residential lots and strata apartments sufficient to return the initial investment and still provide for substantial future development. CMF introduced Thakral Holdings to the resort and the redesigned master plan. Thakral Holdings then contracted to purchase the property from CMF/Multiplex.