APPROXIMATELY 140 self-managed superannuation funds property investors have been affected by the collapse of property company Adelaide-based Nova Real Estate.
Chartered accountants Andrew Heard and Anthony Phillips of Heard Phillips have been appointed administrators to Nova Real Estate Proprietary Limited, which is a company associated with Charterhill Group, which was not impacted.
Heard Phillips revealed that approximately 140 investors had over $6 million invested with Nova Real Estate. The investors were predominantly from Victoria and New South Wales.
Property Review
