We were appointed Receivers and Managers of Highfields Development Pty Limited in April 2021 on behalf of the secured creditor to refinance or realise the properties. Highfields primary asset was a 2 hectare site in the epicenter of the Port Macquarie Health and Education Precinct, across five tenanted property titles. As Receivers and Managers, our role included:
- Securing the asset and liaising with multiple stakeholders in relation to a refinance or sale;
- Undertaking a sale campaign, short listing parties, assisting with due diligence, liaising with parties and selling the property development; and
- Distributing the sale proceeds to the Secured Creditor.
As Receivers and Managers, we were able to sell Highfields key asset to maximise returns to the Secured Creditor.