This article is from the Australian Property Journal archive
EG Funds Management has bought the Circle on Cavill shopping and office complex on the Gold Coast in a receivership deal for $40 million.
Mark Witheriff and Lachlan Harris from CB Richard Ellis and Dan McVay and Sam McVay of McVay Real Estate were appointed by Justin Walsh and Rick Dennis of Ernst & Young to market the property for sale.
McVay said the sale campaign had generated 12 Expressions of Interest from property funds and private investors, including offshore buyers from Singapore and mainland China.
EG Funds Management is a specialist, value-add property fund manager. It currently manages five unlisted funds with a combined asset value of $750 million on a fully invested basis.
Completed in 2006, Circle on Cavill has a net lettable area of 12,306 sqm and 429 underground car spaces.
Australian Property Journal
