Whisper Bay, Airlie Beach

FORMER prime minister Bob Hawke has been affected by the collapse of the $282 million Whisper Bay development at Abel Point.

The development has been placed in receivership.

The project was completed in December, however, earlier this month a banking syndicate, including Bankwest, issued a notice of demand for the repayment of a $180 million loan facility.

A request for an additional loan of about $10 million to fit out the hotel component of the complex was also rejected.

About one third of the apartments in the 104-unit complex have been sold, with settlement pending.

Mr Hawke, who bought one apartment in the complex off the plan and once promoted the project, said he was surprised by the fate of the completed development.

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