Bathla Collapse Puts Buyer's $40,000 Apartment Discount at Risk in Sydney
Updated
Updated · ABC News · Sep 11
Bathla Collapse Puts Buyer's $40,000 Apartment Discount at Risk in Sydney
2 articles · Updated · ABC News · Sep 11
Summary
$40,000 is the extra amount Sydney buyer May may have to find at settlement after Bathla's collapse cast doubt on a promised 5% developer contribution.
Messages reviewed by ABC described the offer as a 5% discount on an roughly $800,000 Marsden Park off-the-plan apartment, but May says the contribution was not written into the contract she signed.
Bathla entered voluntary administration on August 25 with debts of more than $3 billion, and the project's takeover by lender Leda does not include this development in the current short-term funding arrangement.
University of Sydney law professor Jason Harris said an entire-agreement clause makes enforcing the promise difficult, though estoppel or set-off could still be argued depending on the wording of the representations.
The apartment, once expected in early 2025, is now due to settle in February 2027, underscoring lawyers' warnings that buyers should seek independent legal advice rather than rely on sales agents' assurances.