Receivers list six unfinished Brighton homes for $9m as buyers face completion risks

The six-home luxury development at 8-12 Were Street, Brighton, is being sold by receivers for circa $9m after construction stalled. Six unfinished Brighton luxury homes are being sold by receivers for circa $9m – barely more than one finished mansion fetched on the same street. The five-bedroom home at 60 Were Street sold for $8.5m in March, leaving just $500,000 between that result and the advertised price for the entire six-home development at 8-12 Were Street. On paper, that’s about $1.5m per proposed home. But an incoming buyer would still need to finish the residences, with the cost of completing the project yet to be disclosed. RELATED: Melb couple’s $622k dream came with sacrifice Melb adults-only museum’s wild new chapter Uniting Church lists prime Barwon Heads site for $3m Stonebridge is marketing the 3305sq m property under instructions from receivers and managers Grant Thornton, after construction progressed beyond the framing stage. The project is approved for five four-bedroom homes and one five-bedroom residence, with foundations, ground slabs, pool structures and structural framing already completed. About 200m from Brighton Beach, the development is surrounded by so...