FUTURE work at the Mildura Marina is in limbo after its developers this week went into administration.
Directors of Mildura Marina Resort Pty Ltd Peter Marshall and John Kelly yesterday confirmed the company had gone into receivership, victims of the Global Financial Crisis (GFC).
But the pair, who conceived the project more than 20 years ago, say there are confident development will continue at Australia’s largest inland marina.
Professional advisory firm PPB Advisory has been appointed receivers and managers.
The marina was first envisaged in the late ’80s and works commenced at the site in 2007. Dockside’s marina basin and bridge were opened in March 2008 and residential construction began a year later.
In 2009, commercial houseboat companies also began operating from the marina, the Dockside Marine Centre became fully operational and the first harbourfront villas were released for sale.
Then in August last year, a $2 million display home and cafe were opened.
A spokesperson representing other ownership interests at the marina yesterday said only a small part of the development had gone into receivership.
For more of this story, purchase your copy of Thursday's Sunraysia Daily 11-10-2012.