Salt Village luxury market yet to turn
The receivers placed a $2.1 million vendor bid when a luxury contemporary Kingscliff went to weekend auction.
It was initially listed in early 2011 with $4,995,000 hopes.
The vacant near beachfront block cost $3.29 million in 2007.
The 25 Cylinders Drive property was offered through John Natoli at McGrath Real Estate under instructions from Julie Williams as receiver and manager.
The beachfront residence in the Salt Village has a 1,000-square-metre casual living floorplan.
It comes with cinema room on ground floor with home office and library. There's an internal lift providing access to the three levels. It has a temperature controlled wine cellar and gym on its basement level. The garaging is for seven cars.
The 775-square-metre block comes with pool.
The property last traded when bought by the then Golden Edge Homes managing director Michel Mouglalis. The Bundall-based Golden Edge Homes is in liquidation.
Mouglalis, a carpenter from Sydney, was at one time chairman of the Queensland Masters Builders Association.
Westpac has the registered mortgage with caveats on title from Boral Resources, ABC Brick Sales and Bradnam's Windows and Doors.
