Site of would-be $15M tech hub at Helensvale on Gold Coast hits the market after mortgagees move in
THE block at Helensvale was to be home to a $15 million tech hub with cutting-edge companies. Now, all that is left is a basement car park and concrete slab.
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A HELENSVALE site that was once earmarked for a $15-million technology hub with fizzled music streamer Guvera, has hit the market.
A basement car park and concrete slab was all that was built of the hub planned for 120 Signato Dr.
Amma Private Equity had hoped to house the head offices of its subsidiaries including music streaming service Guvera, sports portal Sportkix, payment solutions firm Tapp Commerce and investment company App Investments.
That was before Amma ran into trouble with Guvera, which ceased operating after raising $180 million.
The music streaming service claimed 14 million users in 10 countries but the ASX blocked its move to list citing the reputation of the market. Guvera copped criticism over its cash burn, debt level, related party deals and business model. It lost $80 million for the first nine months of FY16.
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The property, once owned by Amma chairman and Guvera director Darren Herft through company vehicle Mi-HQ Properties Pty Ltd, is in the hands of mortgagees.
James Crawford and Stewart Gilchrist, of Colliers International, are marketing the property in an expressions-of-interest campaign that closes on December 10.
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