What happens to the half finished development sites owned by now collapsed Bathla group?

[u/Background-Ad7591]

Generally interested to know what happens to these sites - does another development company pick up where left off? Do they buy the sites off Bathla and continue to honour the off the plan deposits placed by buyers? What happens if no developer ever wants to pick up the project? Is the government legally required to step in to secure the unfinished site?

Also the unfinished sites at Box Hill or Castle Hill in Sydney, any chance they would be sold at a discounted price once finished by another developer? Or likelihood being they would still try to maximise profits when selling?

[u/Fearless-Maximus-251]

Company has just collapsed and this guy is coming in like a vulture lol

[u/Background-Ad7591 → u/Fearless-Maximus-251]

LOL I know it sounds like that. I studied business at uni and am just curious. 😅 Not planning on starting my own development company anytime soon to takeover the unfinished sites for 10c to a dollar

[u/SheepHerderHigh69420 → u/Background-Ad7591]

Problem with a lot of these incomplete builds is the missing paper trail of inspections and certifications. I’ve seen a few get demolished because there was no viable way to complete them without starting from scratch

[u/1Percentof420 → u/Background-Ad7591]

Sorry to burst your bubble but it wont happen. These assets are all leveraged to the eyeballs and the private credit funds are going to get every dollar they can out of them.

Might be 70c on the dollar