Darren Olney-Fraser says Mariner still a buyer of two villages despite failed deadlines on both sides

Darren Olney-Fraser appears calm as he explains why he believes he will still be successful in purchasing two villages from two separate receivers despite not having completed either settlements himself on the original contract dates.
His Mariner Corporation successfully negotiated the purchase of the Hermitage at Tea Gardens (Central Coast NSW) in September with settlement before Christmas. He paid a 5% deposit of $312,500. However he did not settle on the scheduled date, arguing he was waiting confirmation of employee entitlements. The receiver placed the property back on the market about three weeks ago through Colliers who we understand has received up to 20 enquiries following the improved market since September last year.
Olney-Fraser has however placed a caveat on the property and claims this prevents the sale to another. At the same time he issued a demand that the receiver settle by 24 February, but the receiver did not turn up at that settlement. Instead last Thursday the receiver went to the Supreme Court to have the caveat removed, asking for an expeditious hearing. On Friday the Supreme Court stated it did not deserve a fast hearing and listed it for some time in June. Olney-Fraser states this will prevent any sale to other parties and he still wants to settle and is ready now. Watch this space.
Over at The Woniora village (in northern Sydney) the story is the same but with a different receiver appointed by Suncorp. Olney Fraser issued a demand for the receiver to settle on 28th February but it did not occur. Two caveats have been placed on this property by Mariner Corporation as its deposit of $380,000 swinging. Watch this space too.