RECEIVERS have been appointed for Warrnambool-based Barbro Investments which owns the foreshore Sebel Deep Blue Resort accommodation-convention centre and site.

The resort will continue operating under management by the Mirvac group while receivers explore a formal sale process.

Daniel Bryant and Rodney Slattery, of Melbourne-based PPB Advisory, were appointed receivers and managers of the premises last Monday.

Mr Bryant told The Standard “productive discussions” had been held with Mirvac, employees and suppliers and their support was appreciated.

Those involved in the receiver process were keen to clarify it was the company that owns the site that had been placed into receivership and not the company which runs the accommodation/resort business.

It is understood a major bank and several other creditors instigated the appointment of receivers.

Warrnambool developer Graeme Schultz is listed as director of Barbro Investments.

Mr Schultz, a registered commercial builder and draftsman, started his Barbro company in 1995.

The $30 million resort hotel was listed for sale in June last year with the CB Richard Ellis Group, which has its headquarters in Los Angeles.

The 75-room resort off Warrnambool’s Pertobe Road was to be sold via expressions of interest with the adjoining bathhouse, spa complex and conference rooms.

Last year Mr Schultz said the resort sale would allow him to start construction of the final stage of the Port Warrnambool Village project which began in 1997 on the site of the former Siesta Court apartments and a mini-golf venue.

The final stage was to involve 20 residential apartments over five levels called Breakwater Views stretching eastward from the hotel and it was tipped to be completed by next year.

“Overall it will represent an expenditure of $30 million in development of the total site. It has provided Warrnambool with its only four-and-a-half star hotel and the best conference facilities in the western half of the state,” he said.

There were also plans for a further 28 hotel suites above the conference centre.

The hotel design, based on a 19th-century seaside chateau, sparked community debate in its early stages, particularly over the height of a penthouse tower which dominates the foreshore skyline.

Mr Schultz gained a taste for project development as design manager for redevelopment of the Archie Graham Centre for the city council and restoration of Proudfoots Boathouse.

Then followed two stages of the Guthrie townhouse project opposite Cannon Hill.

Mr Schultz was unable to be contacted for comment yesterday.