"... Mr Punch alleged in his statement of claim that the original disclosure statement received from Niecon subsidiary South Sky Investments revealed that he was buying 'a lot in a residential building'.
If he were buying today, that disclosure statement would have to declare it was an 'apartment in a hotel', he said in the claim. ..."
From GoldCoast.com.au
This is a warning to developers who build apartment buildings (such as Aurora) and then sell the management rights to Oaks to operate a residential building as a hotel.
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