Ann: GRR - Quarterly Report for 3 months ended 30 September 2018, page-58

These units are being sold off the plan, the client would see the architect drawings and maybe a flythrough video of what the building will be like. Good architects do rendered 3 D drawings etc and then the client will pay a 10% cash or bank guarantee deposit. There is no title until the building is complete and the Council has given final completion certificate.
The client can withdraw if they wish, but will lose the 10% deposit. They can be sued but that is usually a sign of desperation by the vendor. This happened at the Oracle at the Gold Coast designed by DBI design ( Design by Innovation).
http://www.dbidesign.com.au/portfolio/oracle-gold-coast
The purchasers all pulled out of their contracts, the project builder South Sky Investments went into liquidation and then the units were sold with a 30% discount by the banks.
Like all business, its not sold until the money is in the bank.
No completed building = No Final completion certificate
No Final Completion certificate = No final payment or title.
I'd like to know who the purchaser is? Is it a genuine sale or is it some Director who hopes to get a cheap deal.
The units at 'The Block' would be better value.