Summary

 

The legal dispute involves off-the-plan buyers of the Oracle development in Broadbeach seeking to terminate contracts due to a change in management rights to a hotel chain. The court’s valuation shows a significant property value drop, indicating a declining market. Instead of reselling, the developer sued for the difference between the contract price and valuation. This case highlights the importance of legal advice in a fluctuating market and underscores risks of oversupply in the Gold Coast property sector.

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