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FOR LEASE/SALE

02 9572 8855

Rebecca Lopez
M: 0417 689 917

Hi All, I had bought an OTP apartment in an apartment complex called 'Habitat' in Canterbury Sydney to be developed by Lumex property group. The Lumex group onsold the development to a developer called TopPlace some 4-5 months ago. I have just recently received a letter from their solicitor asking me to sign a 'Deed of Recession' with the following reason: "The owner intends to lodge a new application to carry out a different development scheme on the Land which will not include the Apartment as described in the contract" I understand OTP purchases have their risks but for a developer to come around and now decide that he would like to materially alter the development seems a bit hard to digest.He is offering us only the Deposit plus interest where as the property prices have soared in that area. I am looking to take this to a specialist lawyer and seek a professional opinion. Any recommendations or experiences from other users will be great. Also, if you have been part of this development pls get in touch as there are few of us who have already joined together.. Thanks in Anticipation. Roy