Residents the Herald spoke to last night said they had heard "through the grapevine" that Kensington Park Properties had gone into receivership but were still waiting for the company to tell them.
One family are still waiting for their $1 million house to be built. They have paid
a $100,000 deposit and were told building would start on the sea-view property in January.
But they claim it wasn't until August that builders laid the concrete foundations. And that's as far as they've got.
They are renting another house in the complex, from an investor who owns two properties there, for $550 a week while they wait.
The couple, who did not want to be named, have a sunset clause which means that if the house is not built by December 31 they can back out of the deal. But they do not know if this still stands now the company is in receivership.
They bought a house in the complex last year for $694,000, and Kensington asked if it could use the house as a showhome. In exchange the couple did not have to pay for the house until they moved in.
But they say that Kensington then asked if it could buy the showhome from them, and suggested they buy the sea-view home.
Kensington bought the showhome for $799,000, but the couple are still waiting to be paid the $105,000 difference.
"We're in limbo here," the wife said.
"We just want to get on with life. We don't want to be renting."
