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Case Study

Strategic approach delivers strong result for Receiver

Jones Lang LaSalle was appointed by financial services firm Deloitte to market the sale of the Fairmont Resort, Blue Mountains, NSW, which following several years of neglect and considerable annual loss, resulted in the property being placed in receivership.
 
The resort required significant capital expenditure and was suffering from a very poor reputation; however the fundamentals of the asset were very good and it had a strong trade and income potential. Through a strategically marketed public Expression of Interest (EOI) campaign along with directly approaching our existing network of investors, Jones Lang LaSalle successfully generated interest from 55 qualified investors.
 
Of the 55 investors, six EOIs were lodged at the culmination of the market campaign. We then capitalised on this competitive interest by moving to a non-exclusive due diligence process. After final bids were lodged we negotiated and sold the asset for a price well above the pricing of the initial EOIs received.
 
For more information please contact Mark Durran, +61 2 9220 8973.

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