Credit Connect Group is selling the $55 million project in Sydney’s northwest as-is, including 43 pre-sales attached…
A near-complete $55-million Bathla project at Marsden Park is being campaigned under the mortgagee Credit Connect Group in possession , with as little as a month of works required before completion.
Credit Connect Group chief executive Peter Benson told The Urban Developer that lot 9 in particular [ pictured at top ] was “very, very close to completion”.
“I wouldn’t say basically finished, I wouldn’t say days away, but it’s extremely close to completed,” Benson said.
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Credit Connect is in a court battle over the recovery of loans to Bathla, after Ray White Capital sold out of its debt exposure to a mystery lender.
Court records reveal some Bathla Group-linked companies struggled to complete multimillion-dollar land purchases years before the developer's collapse. A former major lender says Bathla was expanding too quickly, leaving it vulnerable when the property market turned.
Hundreds of apartments have hit the market as receivers start selling the collapsed property developer’s assets.
