September 21, 2014 10:32 PM ET

Real Estate Management and Development

Company Overview of H & S Vision Pty Ltd.

Company Overview

H & S Vision Pty Ltd. engages in the development and management of residential, tourism, and commercial properties for clients in Australia and internationally. The company also engages in quarry business, holiday resort management, property maintenance, and restaurant and golf course management and redevelopment, as well as providing real estate sales agency services. In addition, it offers professional accountancy and taxation advice. Further, the company owns and operates boutique early childhood centers that offer care and education to children in Australia and New Zealand. H & S Vision Pty Ltd. was incorporated in 2002 and is based in Cairns, Australia.

136 Mulgrave Road

Cairns, QLD 4870

Australia

Founded in 2002

Phone:

61 7 4080 3401

Fax:

61 7 4080 3424

Key Executives for H & S Vision Pty Ltd.

Chief Executive Officer and Director
Joint Managing Director
Joint Managing Director
Compensation as of Fiscal Year 2014.

H & S Vision Pty Ltd. Key Developments

Receivers To Sell H & S Vision Head Quarters

McGrathNicol, receivers of H & S Vision Pty Ltd. is seeking to sell its headquarters building at 136 Mulgrave Rd Westcourt. Danny Betros of CBRE Cairns has been appointed to sell the building by public auction. The auction is scheduled on site at noon on March 19, 2014. McGrathNicol are selling properties and management rights as they set to recover a $52 million debt owed to the ANZ Bank.

Receivers Of H & S Vision Commence Sale Process Of Paradise Palms

The receivers of H & S Vision Pty Ltd have commenced the sale process of Paradise Palms Golf Course. Jamie Harris of McGrathNicol, receiver and manager of H & S Vision said, "The receivers of the H&S Vision Group have commenced the sale process for the Paradise Palms golf course, hotel management rights and surrounding development sites." Colliers International's Stacey Quaid, who has been appointed to sell the assets, reported significant inquiry. Quaid said, "There has been a very strong focus on the Cairns market in the last quarter of 2013, with record numbers of development inquiries from both domestic and international interest. Paradise Palms will be one of the major development opportunities on the market this year; we're certain it will attract a lot of interest." McGrathNicol confirmed these assets were also now officially on the market, but steered away from providing any price guidance.

H & S Vision's Pelicans Childcare Centres Seeks Buyers

The assets of H & S Vision Pty Ltd could be sold off in three months. Pelicans Childcare Centres of H & S Vision were placed in voluntary administration this week after the Cairns development company struck financial troubles with their bank ANZ. Innisfail and Atherton, administrators of H & S Vision, could sell off the assets. Michael McCann, Partner, Recovery and Reorganisation at Grant Thornton, said that the first meeting with creditors would be held on August 20, 2013. McCann said, "We will be seeking a buyer for the childcare businesses and expect that process could take up to two or three months. We expect that there will be minimal, if any, interruption to the day-to-day operations of the centres and it is business as usual in regards to the ongoing trading of the businesses. We do expect there will be interested parties, but (we) are not able to provide additional detail on this at this stage." McCann was unable to comment on whether potential buyers had already been approached to purchase the centres. McCann added, "There are a number of options and in this situation it was decided that voluntary administration was the appropriate way forward and may result in a quicker outcome for the businesses."

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 19, 2014
H & S Vision Childcare Pty Ltd and Pelicans in the Park Pty Ltd
 

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