Ex-builder's bankruptcy comeback as new properties hit town
A TRIUMPHANT rise from the ashes by controversial real estate developer Michael Kljaic will see dozens of new properties hit the Warwick real estate market this week and the Serbian-born property mogul is keen to put the past behind him.
After a string of court cases, including a Supreme Court injunction that put the brakes on a building development in St George Springs Estate in 2012, Mr Kljaic has returned with a new business.
This week he will list 22 newly-developed blocks for sale in Warwick's Orchard Grove Estate.
The Gold Coast entrepreneur said he was relieved to finally get the properties registered with the Southern Downs Regional Council.
"It's been a very long journey and a hard journey but I am glad that we got to this point," he said.
"I didn't have a success with my first development in Warwick but I guess this time we should have it."
The owner of MKM Group, Mr Kljaic surrendered his building license in 2012 and was served an injunction by the Building Services Authority after a number of his companies went into liquidation.
Mr Kljaic was in the process of developing a housing estate on Yangan Rd at the time.
"The banks made it really hard on me in 2008 when they the pulled all my loans," he said.
Mr Kljaic said the process of getting approvals to develop the Orchard Grove Estate had been arduous but he was pleased to get back into the Warwick real estate game.
"After all the heartaches this is coming back on top and we want to give the best opportunity for Warwick to expand," he said.
"That is what happened in the past. I am not a builder no more, I am just trying to sell land."
Located in Rosenthal Heights, each vacant lot on offer is around 800sq m and worth $125,000.
Once all the properties have sold, Mr Kljaic plans to complete the second phase and bring the total number of lots to 66.
The Warwick Daily News sought a comment from the Queensland Building and Construction Commission but had not received a response at the time of publication.