ABANDONED BIRUBI BEACH RESORT SOLD

After years of sitting idle, an abandoned resort development at Port Stephens has finally been sold.

Work on the Birubi Beach Resort stalled in 2012, while the company behind the $50-million project went into administration more than two years ago.

Receivers and managers of the property, Grant Thornton, has confirmed a contract has been signed, after a campaign received 12 offers from interested parties between March and April.

Details of the sale remain confidential, but there will be a shortfall to creditors.

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