THE previously purported buyer of The Sands appears to be out of the picture, but a new owner has apparently taken possession of the site.
The golf course and hotel complex owned by Cloud Abacus Holdings and Odyns Holdings entered voluntary administration in July last year, and receivers were appointed to sell the business one month later.
Glenn Campbell, who was reported late last year as the leading bidder for The Sands, ran advertisements in this newspaper seeking new staff to join his “multi-million-dollar refurbishment to bring the golf resort to a new level of luxury”.
According to comments from residents of The Sands on Facebook, the sale was supposed to be finalised in January, and concept drawings of some of the refurbishment works were released.
Real estate agency Colliers International, who oversaw the expression of interest campaign for The Sands, was reluctant to comment about the state of the sale at the time and continued to list the property on its website throughout January.
As of Monday this week, however, the listing no longer exists.
Chain-link fencing was set up at the entrances to The Sands on Thursday last week, and security guards are patrolling the site.
On the same day, a notice was sent to residents of the surrounding estate stating that Bella Joll Pty Ltd had taken possession of The Sands as mortgagee.
“Pending the settlement of The Sands Torquay by Bella Joll Pty Ltd pursuant to orders made by the Honourable Justice Beach of the Federal Court of Australia on 24 December 2020, until further notice Bella Joll Pty Ltd will remain in possession, but will not object to golfers playing as its bare or mere licencees and without any charge.”
It stated “queries about the current circumstances” could be directed to sole director Jason Hopp, and provided his email address.
Mr Hopp had not responded to questions from this newspaper at time of press.
PKF Melbourne’s Paul Allen, the voluntary administrator of the companies that own the assets that comprise The Sands, had also not responded to questions from this newspaper at time of press.