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.
(VISION ONLY)
text will be replaced
