Heritage under the hammer
THE real estate agent selling the former Casino council chambers and associated buildings is quietly confident they will be sold at auction on Friday or very soon after.
Mark Formaggin of PRD Nationwide Casino is co-ordinating the sale and said there had been a lot of inquiries about the prime piece of real estate and six "good inspections" by local and out-of-town investors.
"Hopefully it will sell under the hammer or very shortly after," Mr Formaggin said.
The package of properties, which includes the old council chambers, office space, four retail shops, the Casino Senior Citizens' Centre and Red Cross tea rooms, will be auctioned as one on Friday at the Casino RSM Club at 10am.
It is a block of land of 2216sq m with a combined floor space of 1615sq m.
The sale has been directed by McGrath Nicol, the receivers of Richmond Water Pty Ltd, which bought the property from Richmond Valley Council in 2005 for $1 million.
At the time, the company, which is owned by Lyndsey Rawling, the second wife of disgraced Casino businessman and convicted con man Paul McMahon, said it planned to establish a specialist medical and cosmetic procedures facility on-site.
However the project never got off the ground and the heritage-protected art deco building has languished mainly unused for the past six years.
Mr Formaggin said he was pleasantly surprised by the amount of interest the auction had generated.
He said most of the people who had inspected the property were focused on making the most of the site and "if they can, giving something back to the community".
"The most positive result would be if the property sold to someone with a lot of energy," he said.
"It has so much potential, particularly because of its size and its location."