KordaMentha as the receiver of the failed Saville Property Group is divesting both the company's assets and those owned personally by principal and MD Sam Cheir.
Property developer Saville Australia has become the latest casualty of the global credit squeeze, with managing director and owner Sam Cheir losing the company’s final asset, its CBD headquarters, and his own home and luxury boat to the banks.
The various projects of the Saville Australia property development arm are being sold off, along with its headquarters
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Auctioneers Mack Hall and Frank Torre, from Mack Hall and Associates, said they believed the home was the highest-priced residential property ever sold under the hammer in WA.
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Property developer Saville Australia has become the latest casualty of the global credit squeeze, with managing director and owner Sam Cheir losing the company’s final asset, its CBD headquarters, and his own home and luxury boat to the banks.
A luxury yacht of his has been repossessed
Repossessed Luxury Boats
The luxury 25-metre cruiser, a Sunseeker Predator 82 for which he is believed to have paid about $7 million several years ago, has been repossessed by a finance company and is also up for sale
The various projects of the Saville Australia property development arm are being sold off, along with its headquarters
Repossessed Home
A debt to Bank of Queensland will be paid after the record-breaking sale for the residential property market in Perth of Cheir's home for $A8.5mMr Cheir’s repossessed Georgian-style Peppermint Grove mansion, at 52 Johnston Street, was sold by KordaMentha at a mortgagee auction for $8.5 million last weekend to recover money owed to Bank of Queensland.
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Auctioneers Mack Hall and Frank Torre, from Mack Hall and Associates, said they believed the home was the highest-priced residential property ever sold under the hammer in WA.
Free Australian Finance Blogs with hosting
repo boats
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repo boats
ReplyDeleteboat repos are a good option for people that are looking for boats. For one, you can get them for a low price without having to do much work. Usually all that is required is that you head to an auction and outbid others trying to get the same boat as you.
repo boats
ReplyDeleteboat repos are a good option for people that are looking for boats. For one, you can get them for a low price without having to do much work. Usually all that is required is that you head to an auction and outbid others trying to get the same boat as you.