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Buyer win: Developer’s off-the-plan contract move twist
The 40-storey Chevron One development under construction in 2025. Picture: Glenn Campbell
In a major victory for off-the-plan buyers, a court has ruled a high-rise developer can’t use a sunset clause to cancel buyer contracts after it failed to complete a development on time.
The landmark victory saw the Supreme Court of Queensland slam the door on a high-rise developer trying to deny off-the-plan apartment buyers dream properties they entered into contracts over during the pandemic.
Bensons Property Group developed the Chevron One apartment tower on the Gold Coast. Picture: Supplied
The court battle delivered a massive blow to developer Chevron Apartments Pty Ltd – a corporate entity associated with Melbourne-based property giant Bensons Property Group behind the 40-storey Chevron One development on the Gold Coast – after it had attempted to cancel original buyer contracts signed in early 2021.
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