Receivers look to sell off former Cappo site seized from Aaron Hickmann

Receivers are looking to offload a multimillion-dollar property seized from Adelaide entrepreneur Aaron Hickmann, as financiers chase millions in unpaid debts.

The former Cappo Seafood site on Glen Osmond Rd, ­Parkside, has been listed for sale after it was seized from Adelaide entrepreneur Aaron Hickmann to pay financiers. Picture: Supplied

Receivers are looking to offload a multimillion-dollar property seized from Adelaide entrepreneur Aaron Hickmann to pay financiers, who have been left chasing millions of dollars in unpaid debts.

The former Cappo Seafood site, on Glen Osmond Rd, ­Parkside, has been listed for sale by international property firm Colliers, on behalf of receivers from Pitcher Partners, who were appointed to take control of the property in November.

Mr Hickmann – founder of lighting company Vailo – acquired it in 2022 through one of his corporate ­vehicles Zamaz Property Seven.

According to a report from Pitcher Partners’ Michael Basedow in January, the company owes

Mr Hickmann acquired the property in 2022 through one of his corporate ­vehicles Zamaz Property Seven. Picture: Supplied

Melbourne fund manager Equity One Mortgage Fund $4.5m. Small business lender BizCap is chasing a $2.8m debt and Revenue SA is owed more than $315,000.

Revenue SA, via the Commissioner of State Taxation, placed a “caveat” in October last year over allegations of unpaid land tax on the Eastern suburbs land.

The 4084 sqm site, which features the former Cappo Seafood warehouse and a two-level office building, was previously earmarked for a $37m residential and commercial development before Mr Hickmann took it over in 2022.

Colliers head of investment services Jordan Schmidt said it was a “rare development opportunity”.

“The property benefits from dual access, with a high-profile 84m frontage on Glen Osmond Rd and rear access,” he said,

The landholding is spread across three titles, with current zoning rules allowing for development of up to five storeys.

The properties are offered for sale in one line or individually through an expressions-of-interest sale campaign closing late next month.

Mr Hickmann, 36, has amassed a large property portfolio but receivers have control of several properties as lenders lose patience over unpaid debts.

Last month two vineyard properties in the Adelaide Hills and McLaren Vale – collectively valued at more than $10m – were put up for sale by receivers to pay back debts owed to lenders including BizCap.

Vailo, the ­Adelaide 500 car event sponsor, is being sued for more than $23m by a ­Chinese-backed property investment firm.

It claims a subsidiary company Queensland-based Mr Hickmann owns defaulted on lease bills.

Mr Hickman has repeatedly disputed all claims against him or his companies.