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Stanmore Bay Cottage was among the properties that were formerly part of the Masala restaurant chain, which were sold at auction last month.
The historic cottage at 195 Brightside Road, formerly owned by JKK Holdings, fetched $1.73 million, with final settlement of the sale due on July 21.
The adjacent residential property at 124 Stanmore Bay Road, also formerly owned by JKK Holdings, was sold at the same time to a different purchaser, for $650,000.
The proceeds form part of a settlement between the owners of the Masala chain and the Crown under the Criminal Proceeds (Recovery) Act.
Under the agreement, Masala forfeits a total of $8 million to the Crown to cover most of the unlawful benefit that its owners derived from tax evasion.
Whether or not Paprika Restaurant, which has been operating from Stanmore Bay Cottage for a year, can remain in the property is an issue to be resolved between Paprika’s owners Bob and Anu Konar and the purchaser of Stanmore Bay Cottage (HM June 14).
