Less than a week into a month-long expression of interest campaign, it has been reported that there is strong interest Raptis Group’s sale of the beachfront Sheraton Mirage in Main Beach.

The property, purchased by the Group for around $82 million in 2006 could fetch in excess of $100m – which would make a significant dent in the $300m of debt the Group needs to repay in the short term.

The interested parties are primarily Australian, however there has also been enquiry from Asia and the Middle East.  Among them are Gold Coast businessman Craig Gore, who through his own group International Marina Development and Management has been in discussions with City Pacific to purchase the Mariner’s Cove Marina, opposite the Sheraton.

Tags: City Pacific Ltd, Future Development, gold coast, Main Beach, news, property, Raptis Group, real estate, Sheraton Mirage Resort

This entry was posted on Tuesday, September 16th, 2008 at 1:11 pm and is filed under City Pacific Ltd, Future Development, Main Beach, Raptis Group, Sheraton Mirage Resort. 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.