PRESTIGIOUS: The Koops/Martin home at 13 Charlesworth Bay Road was built by the former Coffs Harbour mayor John Smith.
PRESTIGIOUS: The Koops/Martin home at 13 Charlesworth Bay Road was built by the former Coffs Harbour mayor John Smith.

Koops-Martin home under the hammer

IT won’t just be real estate agents and top-end buyers keeping a close eye on today’s auction of one of the city’s most prestigious properties.

The sale of 13 Charlesworth Bay Road will no doubt pique the interest of everyone associated with the failed investment company LKM Capital.

The stunning five-bedroom, four-bathroom house with views over Charlesworth Bay and an internal lift was until recently the home of the principals of LKM Capital Rolf Koops and his wife Sandra Martin.

The company collapsed in August 2008 owing around $63 million. Many of the 1100-plus investors in LKM Capital were Coffs Coast locals.

One of those investors, Charlie Hodgeson, said yesterday the receivers had so far returned about 20 cents in the dollar.

“When the receivers were first appointed they estimated we would get back between 41 and 60 cents in the dollar,” Mr Hodgeson said.

“I am now confident we’ll eventually get closer to the 60 cent mark.”

The auction will take place on site at 11am.



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