Andergrove QLD: After a few conversations and emails with one of the vendors of the above mentioned property that is located in the heart of town, I can confirm the following;-
* The four parties / shareholders are overwhelmingly keen to do something with this piece of prime land.
* They purchased it 3 – 4 years ago and have sunk over $400,000 into it already, but unfortunately no longer have the funds available to develop the property to satisfy the very strong demand for land and lower priced units in Mackay (Far North Queensland).
* Would consider any and all fair and reasonable proposals / structures.
* Straight out sale, JV, equity partner, trade for income producing real estate – you name it, they’ll consider it.
* One of the shareholders is a very successful local real estate agent that would love to stay involved in the development if possible as he knows it will result (if done correctly) in the provision of a good range of end product for which there is strong demand. You can determine the extent of his involvement if any for your self, although I would certainly recommend keeping him involved even if only as a consultant and to assist in the sale of the end product.