Buyers in a 15-storey development fear their contracts will be cancelled after work on yet another Gold Coast construction site stopped amid builder cash flow problems.
Kathleen Skene follow 5 min read September 12, 2024 - 6:00AM
Gold Coast Bulletin
Buyers in a 15-storey development fear their contracts will be cancelled after work on yet another Gold Coast construction site stopped amid builder cash flow problems.
Buyers in the 42-unit Boutique project at Chevron Island, under way by Sydney developer-builder Draycon, say little if any work had been done on the site this year, with little communication from the developer.
Many signed contracts for between $500,000 and $1.7 million in 2021 which are subject to sunset clauses, which allow the buyer or developer to terminate the contract if the build is not complete.
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