No settlement default here

The much-feared “settlement default” was no where to be seen in Docklands recently when all new investor-owners within the 888 Collins St west tower settled within nine days.

Naysayers have been recently warning that off-the-plan investors are likely to walk away from settlements.

But Lendlease spokesperson Larissa Webster said there was no sign of this with 888 Collins St.

“To date, all apartments due for settlement so far have settled,” she said.

“For investors, the average time from settlement to having a tenant sign a contract for owners of apartments in the West Tower was nine days.”

Ms Webster said east tower settlements would start later this year.