Revived Bensons Files Student Living Plans in Melbourne

Resurrected property development manager Bensons Property Group has filed plans for a seven-storey project on a heritage site at Melbourne’s Brunswick.

Bensons negotiated a deal with creditors this year to leave administration, agreeing to return 0.14 cents for every creditor dollar.

At the time it owed creditors $400 million. The company reorganised itself as a development manager and offered creditors an option to reinvest in a $30-million debt fund and a $20-million equity fund.