Perspective Nexus Update

Yesterday the court handed down the judgement in the Perspective Nexus proceedings and unfortunately has ruled in favour of the Appellant and overturned the approval provided by Gold Coast City Council. Whilst we are incredibly disappointed, we respect the court’s decision.

The greatest tragedy of this, from our viewpoint, is for the existing 30 families who have been waiting patiently with us over the past 18 months. As developers we take many risks, however, we are sorry our buyers have lost in this circumstance, particularly given the current climate. We sincerely thank our buyers for their support to date and will provide further information to them in the coming weeks. 

We have an absolutely incredible world-class site and we are still committed to developing it. Whilst financially this isn’t a great result for us, we have been blessed with settling two incredibly iconic projects over the last month and will allocate this capital to developing a new Perspective Nexus design.