Mortgagee sale for Veron Rd seniors site

A DA-approved seniors living development site on the corner of Hillview St and Veron Rd in Woy Woy has been advertised for sale with "mortgagee in possession".

The Woy Woy property has been at the centre of controversy for several years over the endangered ecological community found on the site.

Real estate firm Jones Lang LaSalle advertised the 1.16 hectare property as a "retirement living investment opportunity" in the Central Coast Express Advocate on May 12.

A spokesperson for Jones Lang LaSalle said the land was being sold on behalf of the mortgagee Dobler Consultants.

"The site at Hillview St, Woy Woy, has development approval for a 52-unit retirement village, basement car park and associated community facilities," he said.

He acknowledged that a number of units had been sold off the plan and "these will be transferred to the new owner".

"I can confirm that the property is being offered for sale via expressions of interest so I don't believe there is an asking price per se."

The land has been managed by Leasurement, which has been selling units since November last year.

The company told Peninsula News in February this year that construction work was delayed due to the Global Financial Crisis.

It is believed up to 11 deposits had been secured by the company at that time and building work was expected to commence back in April.

This had increased to 15 by May 10.

It is understood that information days planned by Leasurement for May 27 and May 29 will proceed.

Expressions of interest for the development site close on June 17.

Press release, 5 May 2010 Brendon Wenke, Jones Lang LaSalle Media statement, 17 May 2010 Roger Christie, Sefiani Communications Group