Trinity Ltd has sold 23 freehold apartments, conference centre and the resort manager’s apartment, as well as the management rights over 91 strata-titled apartments in the 4½-star Victorian coastal complex Cumberland Lorne Resort.
The $9.1 million deal was sold at an estimated $1.9 million loss just months after Trinity announced a multimillion-dollar write-down on the Great Ocean Road resort.
The $3.2 million write-down was cited as the cause of the Trinity’s $3.7 million loss last year.
”The write-down reflects the depressed market conditions being experienced by the coastal leisure property sector,” according to Trinity’s half year financial report.
AccomNews is not affiliated with any government agency, body or political party. We are an independently owned, family-operated magazine.