The property is located at 1-2 Glastonbury Avenue, Unanderra; the two sites are being sold in one line.
The property will be offered for sale via auction on December 7, under instructions from Danny Vrkic, liquidator of Manbead Pty. Limited.
Mr Pennimpede was disqualified by ASIC in 2021 from managing corporations for four years after his involvement in four failed companies, including Manbead Pty Ltd.
The four companies were involved in land acquisitions, residential property development and wholesale construction trade.
The total amount owed to unsecured creditors for all four companies was estimated at $10,953,719, of which $2,697,828 was owed to the ATO.
The Wollongong-based appointed liquidator Danny Vrkic declined to comment on the Unanderra listing when contacted by the Mercury this week, other than to say that the liquidator "is enforcing his rights under a deed settlement".
However, in his statutory report to Manbead creditors lodged with ASIC in 2019, he notes that tasks to be completed as part of the liquidation process include the sale of land holdings.
The report also acknowledges the Glastonbury Avenue properties to be among the company's assets.
CoreLogic records also show that 1 Glastonbury Avenue, Unanderra was sold to Manbead in 2015 for $48,000.
Records also show 2 Glastonbury Avenue sold to Manbead in 2010 for $530,000.
The site has DA approved for new service station, convenience store and car wash and currently also have heavy industrial zoning.
"Ideally positioned at the entrance to Unanderra's industrial precinct, this site offers a unique opportunity for developers or owner occupiers to acquire a large parcel of vacant, unimproved land, in a highly sought after location," the property's marketing says.
"The property will be sold with DA approval under instructions from the liquidator. The site received DA approval in November 2019 for a brand-new service station with a convenience store and carwash, which sits over both titles. There is approximately 330 square metres approved under roof."
Selling agent, Taleah Thomas from Colliers Wollongong said there wasn't a price guide available yet, with the property being listed on Friday.
"It was difficult to price; it's vacant bushland with power lines over the site... It's DA approved for the service station, so hopefully we find a buyer that proceeds with the DA, or something else may come of it," she said.
"You're right at the start of that industrial precinct for Unanderra, so that zoning works long-term."
Mr Pennimpede is also the owner of the 'Villa Carla' mansion.
It's one of the Illawarra's most recognisable and expensive properties, and there have been several attempts to sell it during recent years via different agents.
The new Illawarra-based selling agent has listed the home with an increased price guide of $10 million, as the property is now being sold fully furnished.
'Villa Carla' was previously listed with a price guide of between $9 million and $10 million, one of several attempts to sell the home in recent years.
In March, the then Sydney-based selling agent said the home had a revised price guide of $8.5 million.
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