Mark McIvor's house sales – Cronin Island and Double Bay – keep everyone guessing
Teralla, the occasional Double Bay residence of embattled Gold Coast merchant banker Mark McIvor, the former managing director of Equititrust, has been sold by receivers.
Set on a 746-square-metre Cooper Street block, the four-bedroom Victorian house was bought by MM Capital Pty Ltd for $4.7 million in 2005.
Its Laing+Simmons Double Bay agent Bart Doff had it listed with hopes of securing more than its last sale price given its renovation. No sale price has been disclosed.
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The Alex Popov-designed Cronin Island Gold Coast home (pictured above) of McIvor and his wife, Stacey, sold to Fulton Transport boss Gary Fulton company, Vitago Pty Ltd earlier this year is back in the news.
Its official paperwork showed a $6.75 million sale price which stumped seasoned Gold Coast property experts, who'd imagined something closer to its $ 4.4 million auction passed in highest offer.
Now its emerged the lenders on the purchase, the Commonwealth Bank, commenced Queensland Supreme Court proceedings against Fulton and Vitago in May.
The Gold Coast Bulletin inspection of the court document shows the Commonwealth Bank says it lent Vitago $4.758 million in first-mortgage funding on the Cronin Island house.
Its action seeks possession of the property and repayment of the mortgage, plus interest.
