Great news! The final component of the contracts has been passed… the current owners of the Garden Suburb property have got their DA Approval for their new building on their other site!
Armed with that piece of information, we’ve paid the balance of the purchase deposit ($525,000).
And that means that the contract is. now. in. force.
Very exciting. In 18 months the settlement period (called the Call Option window) will begin, we’ll tell them that we want to execute the deed, and that will trigger the settlement period. And then… then we’ll own it.
And construction can begin :)