At risk residential development in Cammeray completed after successful negotiation with purchasers

With so much going on in the Sydney residential property market, we've seen many developers stretch their resources beyond a comfortable capacity. We recently worked with a developer that was in the process of building 20 apartments in a prime, lower North Shore location in Sydney. All of the apartments were sold off the plan.

With the project running over two years late, the developer was in financial distress. There were many reasons for the delay including: design issues, problems with work quality, cash flow issues, and disputes with the builder.

Fearful that their investment was at risk, the project's financier was threatening to appoint Receivers and Managers to complete the project and rescind all pre-sales.