Mark McIvor loses controls of another Cronin Island property
The former Equititrust executive Mark McIvor has lost control of his remaining two block Cronin Island holding.
The 2,217-square-metre offering comes with an original single-level house and vacant block.
McIvor, who founded the Gold Coast's own merchant bank, Equititrust, in 1993, consolidated the offering about a decade ago.
It cost $3.6 million in 2002 and $1.7 million in 2003.
Michael Willems and Robert Graham at Ray White Prestige has the receivership listing, which will be auctioned September 6 in one line or as two separate parcels.
Equititrust, which became known for using a Roman voussoir arch as its marketing logo to suggest structural stability, was among the many unlisted mortgage funds to take a battering following the 2008 financial crisis.
McIvor's own residence was also on Cronin Island. It was a two-storey riverfront home designed by Sydney-based architect Alex Popov on a 1,736-square-metre block with 50-metre frontage onto the Nerang River and was sold off earlier this year amid some intrigue. It is currently up for resale.
McIvor built the house on the $1 million block, which he bought in 1994.
It sits in landscaping by international garden designer Andrew Pfieffer.
There are just 33 houses on the island.
