Friday, September 16, 2011

Settlements Start At Soul

ANYONE who thinks Soul is heading for receivership because buyers won't settle will be "sadly disillusioned", veteran developer Graeme Juniper says.
The $850 million Surfers Paradise project has been 11 years in the making and Mr Juniper plans to see it through to the end.
"We have the complete support of our financiers and we are with this journey all the way through," the co-managing director of Juniper Group said.  "We will be delivering this building and Juniper will be there -- it's that simple."
Settlements of the first stage of the apartment project began on Tuesday, a process expected to take months to complete.

The family-owned Juniper Group has contracts on 173 apartments in the first stage, but Mr Juniper could not disclose how many had settled.

He confirmed Juniper Group was still finding buyers despite the dire Gold Coast apartment market and that he had secured an unconditional 30-day contract for an apartment yesterday.

See Gold Coast Bulliten

I am not sure why settlement will take months.  Usually, all settlements (even for a large building) are done in less than a week.

No comments: