Sky Home buyers offered get out of jail free card

Diamond Development Alliance, led by the former Directors of Niche Living, has reached out to buyers, offering them an opportunity to be released from their contracts at Sky Homes as a new builder takes charge.

With construction stalled since early 2024, buyers have neither received Home Warranty Insurance (unlike the 200 house and land clients) nor clarity, as their 10% deposit remains in trust until their sunset clause expires, which for some extends to 2027.

AAA CEO Samantha Reece asserts that while some buyers may feel disappointed, this situation is actually a blessing in disguise.

"The building has been left derelict for over 12 months, causing significant damage to the existing structure," Ms. Reece stated confidently.

"Moreover, there will be ongoing complications with defects and holding the builder accountable, as we are currently seeing with Shenton Quarter.

"For AAA, this is undoubtedly the best outcome, and we have advised buyers to take their money and move on. Continuing with this purchase is akin to navigating a minefield, destined to end in disaster."

The ongoing saga with Niche Living has seen the company stripped of its building license for 10 years in 2024. The State Government has spent $40 million in taxpayer money to compensate the 200 house and land owners with Home Warranty Insurance, leaving apartment buyers without protection.