UP FOR SALE: The Clem7 toll road. Picture: Bruce Long Source: The Courier-Mail
THE CLEM7 toll road is going up for sale, with receivers to the collapsed operator of the road, which uses a tunnel under the Brisbane River, calling for expressions of interest.
The 6.8km road was opened to traffic in 2010 but consistently struggled to meet overoptimistic forecasts for traffic.
A big debt burden eventually helped trigger the financial collapse of the operator, stockmarket-listed RiverCity Motorway, in 2011.
Martin Madden and David Merryweather from KordaMentha were appointed receivers, and Mr Madden yesterday said a sales process would begin from today.
Investment bank Goldman Sachs was assisting with the sale.
Mr Madden said the first step would be calling for expressions of interest.
BrisConnections, the operator of Brisbane's other big toll road, Airport Link, collapsed earlier this year, also the victim of overly ambitious forecasts.
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