Devine reports that as at 8 February, 384 settlements had occurred for the apartments in Towers 1 and 2 at Hamilton Harbour.
Devine also reported to the ASX this week the following information:
Hamilton Harbour (Towers One &Two) settlements
commenced with 85% of contracted pre-sales settled prior to
31 December 2011
This strong completion result is testimony to the quality
outcome at Hamilton Harbour
Sales activity within the third residential tower has
improved and continues into 2012.
I think it is somewhat funny that Devine thinks that a settlement rate of 85% is a strong result. Maybe there were expecting a lot worse. There are 469 apartments in total in Towers One & Two. So assuming that all have sold, this means that 70 buyers did not settle. That is a large number of contracts to crash.
Why buy in the third tower, when you have a choice of 70 failed contracts in the first and second towers?
"Failed Settlements At Hamilton Harbour"
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