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A Queensland couple lost their $2.6M apartment deal after developer invoked a sunrise clause, demanding $1.2M more or refund.
A Queensland couple lost their $2.6 million off-the-plan apartment deal after developer Kokoda Property Group invoked a sunrise clause, citing rising costs and builder shortages.
They were offered to repurchase the unit for $3.815 million—nearly $1.2 million more—by January 16 or get a refund.
The developer claims financial feasibility concerns and says early works have begun.
Legal experts question the fairness of such clauses, and the case highlights risks in off-the-plan purchases amid Queensland’s high construction costs and building shortages.
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Una pareja de Queensland perdió su acuerdo de apartamentos de $2.6M después de que el desarrollador invocó una cláusula de salida del sol, exigiendo $1.2M más o reembolso.