After several days of negotiations with three parties, it is anticipated that City Pacific will announce the sale of some of their assets later today.  The sale is expected to include the 11,000 square metre Surfers Paradise beachfront site that the company amalgamated last year with local developer Craig Perry’s Insight group.

At this stage, the identity of the bidders has not been confirmed, although it is speculated that Sunland and Mirvac – City Pacific’s joint venture partner on the $1bn Gainsborough Greens development are among them.   Details of the deal should become available by the end of the day.

Tags: City Pacific Ltd, Future Development, gold coast, Mirvac, news, Pacific Beach, property, real estate, Rumours, Sunland

This entry was posted on Wednesday, March 12th, 2008 at 8:45 am and is filed under City Pacific Ltd, Future Development, Mirvac, Pacific Beach, Rumours, Sunland. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.