Failed concert promoter, who owes as much as $20 million, has sold his luxury Tranmere home
The sale price is a mystery, but failed concert promoter Phil Rankine has sold his Tranmere home.
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Failed concert promoter Phil Rankine, who owes creditors as much as $20 million, has sold his Tranmere home.
The property, listed for $1.5 million late last year, was described by agents as a “Hamptons-style” luxury home, and includes a swimming pool, double garage, and a walk-in linen press on a 1023sq/m block.
The agents would not disclose the sale price, and the figure is yet to be listed on publicly available registers.
The home’s 2015 transformation was detailed by Rankine and former wife Amity Dry on their now defunct blog, doingourblock.com. The couple came to prominence after winning the inaugural season of hit television show The Block in 2003, and Ms Dry is a successful entertainer in her own right.
The Advertiser reported in November that the house had a mortgage and four caveats on it, with one lodged by the liquidator of Rankine’s companies, Martin Lewis of KPMG.
The other three were lodged by North Adelaide conveyancer Alex Dianos who has claimed he is owed $5.9 million.
Public documents now show that the property now only has one, new mortgage over it, and one caveat from Mr Lewis.
There is a notice of ‘withdrawal of caveat” dated March 13, however there are no details immediately available as to whether they were Mr Dianos’s caveats.
The Advertiser was unable to contact Mr Dianos.
Rankine was for many years the foremost concert promoter in Adelaide, bringing acts such as Florence + The Machine, Phil Collins and Bon Jovi to the state.
His business affairs unravelled last year however, with a Supreme Court action over debts of more than $4 million claimed to be owed to a European consortium and total claims of more than $20 million, including to Adelaide identities such as former Crows player Mark Ricciuto and members of the Kidman family.
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The Advertiser understands that the Serious and Organised Financial Crime Investigation Section of SAPOL has contacted people owed money by Mr Rankine, in relation to dealings around the Elton John concerts held in Adelaide in December.
Chugg Entertainment stepped in and took over the running of the Elton John concerts after a number of Mr Rankine’s companies were first placed in administration and then liquidation last year.
The Advertiser was unable to contact Mr Rankine.