Waverley Residences to be placed on market, buyer contracts void in wake of Descon Group collapse

Contracts for more than 60 apartments in a Gold Coast development have been torn up, leaving “heartbroken” buyers buyers without their long-awaited homes. Read how it happened

Kathleen Skene follow 2 min read September 5, 2024 - 12:00PM

Gold Coast Bulletin

Contracts for more than 60 apartments in a Southport development have been torn up, leaving “heartbroken” buyers without their long-awaited homes.

Receivers of Waverley Residences, whose builder Descon Group Australia went into liquidation in May, told buyers the unfinished project would be sold “as is, where is” and their contracts would be voided after more than three years of uncertainty.

Although deposits will be returned, many buyers signed up in 2021 and were in the market for apartments under..

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