Asset Plus has advised that the settlement of the Eastgate sale has been delayed due to a Building Act certificate that is linked to both the principal Eastgate titles and the adjoining McDonald’s restaurant.
The company has applied to the Christchurch City Council to have the certificate removed from the McDonald’s title, and are confident the issue can be rectified within the 12 working day notice period.
If settlement does not occur within this period, the purchaser can sue for specific performance or cancel the agreement.
Asset Plus will continue to update the market as appropriate.
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