Rights issue heading for BCCM ruling

The Body Corporate and Community Management Commissioner is likely to resolve the management rights issue at Carmel by the Sea at Broadbeach.

The management rights are held by StayMint but these expire on 16 October. The body corporate has put to tender the management rights and wants to give them to Dabco Holdings under a three-year contract that specifies a low or no caretaking fee clause.
StayMint maintains it is being deprived of an asset and has applied to the Body Corporate and Community Management Commissioner for a ruling.
Meanwhile a series of management rights sales have been negotiated in recent weeks. Management rights for Paradiso Resort at Kingscliff, Golden Riviera Beach Resort at Tugun, the Grand Apartments in Labrador and Paradise Island Resort and Columbia Tower in Surfers Paradise have all been sold. All the properties, except Paradiso Resort, were sold by receivers and were negotiated by Ray White Hotels Australia.
It is understood that two Broadbeach resorts, the Phoenician and Bel Air, are also under contract.

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