Project Value: Circa $26 million combined
Location: Gidgegannup, WA
Client: Cor Cordis (Receiver Managers), representing Mortgagee in Possession: Eastwood Securities
Situation
Effective Residential was engaged to support Effective Property Solutions (EPS) in the marketing and sale of a highly complex portfolio:
10 rural properties in Gidgegannup, approximately 176 hectares across multiple titles, including the iconic Le Lake Retreat.
The lender had received no debt interest for over 18 months. Rates and land tax were overdue on all properties and a lengthy legal process with the original borrowers was still underway. The portfolio included a significant development opportunity, zoned Urban under the MRS and General Rural/Rural Residential under City of Swan planning.
Challenges
This project carried a number of complications:
- Mortgagee in Possession sale with active legal disruptions
- Environmental constraints, including asbestos
- Attempts by the original borrowers to inhibit the sales process, including injunctions, false offers, and attempts to disrupt the auction
- A unique estate requiring specialised maintenance and onsite care
- Highly geared assets requiring precision buyer qualification
Despite the obstacles, market interest needed to be driven clear, fast, and with complete professionalism.
Strategy
A comprehensive campaign was delivered across all 10 properties, tailored to maximise exposure and buyer confidence.
Our approach included:
- National and international buyer targeting
- A multi-platform marketing mix:
Realestate.com.au, Domain, Real Commercial, Meta, Most WA, and strategic media placements - Fresh creative assets and storytelling — particularly for Le Lake Retreat, leveraging its rich history, unique lakes and gardens, and retreat-style structures
- Strong positioning of urban development potential, with proximity to the Gidgegannup township and future growth corridors
- Close legal and due-diligence alignment with the Receiver Managers to ensure accuracy, clarity, and compliance at every step
The campaign generated substantial unpaid media coverage, turning the story into a major talking point across WA.
Outcome
Le Lake Retreat
- 50+ qualified enquiries pre-auction
- 6 registered bidders
- 5 offers post-auction
- Successfully sold and settled in June 2025
Development Lots
- Strong market engagement throughout
- Majority sold to local owner-occupiers
- A portion acquired by a respected medium-sized developer
- Full portfolio successfully liquidated within agreed timeframes
These results delivered the Mortgagee in Possession a commercially favourable and timely exit from a longstanding default position.
Client Testimonial
We faced a complex situation with a large loan facility in default and multiple properties requiring sale as mortgagee in possession.
— Eastwood Securities
EPS provided solid marketing options, an exceptional network across the property sector and a comprehensive program implemented to tight timeframes.
Regardless of the challenges, the team remained calm and methodical — helping us liquidate the security properties efficiently.
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