PHOTO: The facade to Mary Street. Photo: Supplied
Letters that were “chatty but hopefully scary” were approved by a property developer to be sent to people who’d bought apartments off the plan two years before, in the hope they’d walk away from their contracts, a court was told on Tuesday.
If those buyers could be persuaded to voluntarily rescind their contracts, the developer stood to earn an extra $4.9 million in sales, on top of the $15 million expected, by reselling the units in a rising property market, it was alleged.
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