Colliers International says it is hopeful it can sell five properties associated with a failed company at the centre of the Wollongong council corruption inquiry.
The company behind Quattro, Sebvell Pty Ltd, which is a joint venture between Wollongong developers Frank Vellar and Frank Sebastian, has been placed in receivership.
The properties ordered to be sold include the controversial $100 million Quattro development in Wollongong.
A spokesman for Colliers International, Simon Kersten, says he is confident the company’s property portfolio, estimated to be worth $30 million, will be sold.
“It will be a carefully managed, structured process selling them at the right time, making sure all of them are dealt with before the sale so there is no questions left hanging or reasons for buyers not to offer the full prices,” he said.