Worrells Solvency and Forensic Accountants partners, Morgan Lane, and Michael Griffin, were appointed by the court, as liquidators of the Indooroopilly Bowls Club Inc on 9 October 2014.
Upon appointment, Worrells was tasked with unfortunately ceasing trade at the club, and therefore ending employment, and memberships, due to the club’s financial position.
Given the long history of the club, it was certainly sad to see the club in this position; however, it was laden with debt that it was increasingly unable to service.
Worrells are now pleased to report that an Expressions of Interest campaign is underway, for the sale of the club.
Worrells have engaged Knight Frank, as agents for the sale to maximise the opportunity to re-open the club doors to the community. Worrells confirms that the club is being marketed with its current use approvals, liquor licence, and gaming machine licence for 16 poker machines.
Interest in the acquisition at this early stage has been strong, with a number of parties making enquiries. Knight Frank requests that Offers to Purchase from parties interested in the Indooroopilly Bowls Club to be submitted by 4pm on 26th February 2015.
Morgan Lane, Worrells Partner, said, “We are pleased to see that potential buyers appreciate the possibility of this unique property and that the club’s members may be able to enjoy the facilities once again”.
Former club employees, with the assistance of Worrells, have applied to the Federal Government for their outstanding wages and entitlements, under the Fair Entitlements Guarantee Scheme (FEG).
Worrells have made the property available for inspection via Knight Frank.
Partner, Worrells Brisbane
07 3225 4330
07 3246 8896