News

Baker assets up for sale

Four properties with 14 shops are for sale in the Maclean CBD.
Four properties with 14 shops are for sale in the Maclean CBD.

ASSETS worth millions of dollars, including the Maclean Hotel, Maclean retail shops and two major subdivisions at Gulmarrad, are being liquidated by receivers looking to recover debts incurred by companies previously under the control of Maclean developer and Clarence Valley councillor Andrew Baker.

Three advertisements appeared in the Sydney Morning Herald on Saturday and more advertising is being booked in publications in Brisbane, the Gold Coast and the Clarence Valley.

The Daily Examiner has advertisements booked for the next three Fridays.

The properties are being sold by LJ Hooker, Grafton, commercial property agents Hartigan Bolt and Manenti Quentin and Associates.

Agent David Bolt said it was too early to comment on the level of inquiry but he expected strong interest in the retail properties and Gulmarrad subdivisions.

All properties are being sold by expressions of interest and no price guides were available so interested parties are expected to use valuers.

A total of 111 residential lots is included in the two subdivisions - 29.46ha at McIntyres Ridge (approved for 46 lots) and 31.37ha at Sheehans Estate (65 lots) - with a minimum lot size of 4000sq m.

An information pack on the subdivisions says 13 of the 14 lots in stage one of McIntyres Ridge had been sold previously at $135,000 per lot.

The retail outlets include the Palace Arcade, inclusive of its 11 shops and eight offices; the riverfront Home Hardware site; and the buildings occupied by Elders Real Estate and Maclean Newsagency.

Cr Baker said there had been no change in his financial situation since the Daily Examiner story on August 20.

When asked if this financial situation increased the risk of a by-election, he said it was not related to his position on council.

Topics:  property, receivership




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