Clive Palmer empire’s $20m Brisbane HQ on the block

An under-fire Clive Palmer is quietly shopping around his $20m Brisbane city headquarters.

Clive Palmer is trying to sell his $20m Brisbane headquarters.

An under-fire Clive Palmer is ­quietly shopping around his $20 million Brisbane city headquarters, the Mineralogy House building, as he faces a legal barrage over the collapse of Queensland Nickel.

The Australian understands Mr Palmer is trying to sell his corporate empire’s head office after failing to raise finance against the asset from brokers contacted by ally Domenic Martino in recent weeks. Agents Knight Frank have been appointed to sell the 11-­storey building in an “off-market” expressions of interest campaign that closes next Thursday.

The former federal MP will ­return to the Federal Court ­witness box today, for a third day of examination about the demise of QN which cost 800 jobs and left creditors $300m out of pocket.

The resources tycoon earlier this week boasted he had access to $150m in unencumbered real ­estate assets that he could have borrowed against late last year ­before QN’s collapse, but didn’t.

RP Data records show Mineralogy bought the building for $19m from Aria Securities in 2009. Mr Palmer’s flagship company transferred it to him personally for a discounted $15.4m in 2013. ­According to a scathing April ­administrators’ report, it was one of 17 Queensland properties held in Mr Palmer’s name.

Liquidators have the power to apply to the Federal or Supreme courts to freeze assets, but it is thought to be too early because no legal action has been aimed at Mr Palmer personally over the collapse.

The 50-year-old building, on Queen Street in Brisbane CBD’s “golden triangle”, is largely empty, and has carried a big yellow “for lease” sign since early this year. It has been home to many of Mr Palmer’s companies and houses his purpose-built media room, the site of dozens of press conferences for Mr Palmer’s Palmer United Party, his plans to rebuild the ­Titanic and other ventures.

Also quietly on the market is Mr Palmer’s 75.95ha Avica reception centre at Merrimac on the Gold Coast. QN bought the venue, which has a wedding ­chapel and a lake, for $11.55m from a Japanese company in 2010. It was transferred to Mr Palmer in 2013 for $7.9m.

A proposal has been lodged this year for 5000 apartments on the site in one of the biggest development applications filed with the Gold Coast council.

Sources said Mr Palmer, through marketing agents, had hopes of selling the site close to Robina train station for $50,000 for each unit that could be built there, valuing the land at $250m. But market analysts put the value of “development ready” land in the area at closer to $15,000 a unit, or an estimated $75m.

The property houses the “Palmer Avica Weddings” operation, with a website advertising a “stunning sandstone chapel” seating 100 guests with an altar overlooking a private lake.

Mr Palmer’s 30m Maximus Horizon power yacht is still on the market for $6.3m, while liquidators are still trying to sell Palmer Aviation’s Bombardier Global Express jet, bought with a $26m loan from GE Commercial, now Harrenvale Australasia, in 2012.

A liquidators report lodged this week by FTI Consulting shows the jet has cost almost $1m in “repairs and maintenance fees” since March. Court documents show two valuation firms considered the Bombardier — which has “Palmer” on its wing tips, belly and sides — last year, giving it a market value of up to $US15m and a liquidation value of up to $US13m.

GE Commercial Australia provided the liquidators with $745,000 in April to fund the jet’s maintenance and refurbishment, which is understood to have occurred in the US.

Mr Palmer’s two 155-seater jets continue to sit idle in a corner of Brisbane airport, where they have been since at least early 2014.

The McDonnell Douglas MD-82 jets, worth up to $5m each, are registered in the Cayman Islands tax haven.

His empire put up 10 golf course-frontage lots for auction in April at his Palmer Sea Reef at Port Douglas. Agent Tony McGrath said two had been sold.

Addditonal reporting: Anthony Klan