The $35 million is in addition to an impairment announced at the half-year results in February.
McGrath will sell a 15 per cent stake to property developer Aqualand Group with a placement that gives the ASX-listed real estate agent a $10.7 million cash injection.
John McGrath's former lieutenant,Geoff Lucas,has returned to take the helm of embattled real estate company McGrath.
By Thursday afternoon,it looked like there would be no further clarification as to what the hell is going on at McGrath Ltd.
The ASX is reviewing claims made by real estate giant McGrath about its celebrity founder John McGrath's margin-lending facility.
Questions surrounding real-estate identity John McGrath's online gambling debts should be quickly resolved,a significant investor has said.
John McGrath's listed real estate company has had a tough start to the week.
Cass O'Connor says McGrath has met its obligations to investors.
Embattled real estate supremo John McGrath has described the tumultuous start to the new year as the"best few days"of his life.
After a day of tumult,John McGrath's property business is under scrutiny from the ASX.
The real estate company is in turmoil after its lower-than-expected earnings were leaked to the media.