Sanctuary Construction Update November 2024

YOUR LATEST CONSTRUCTION UPDATE ON SANCTUARY | NOVEMBER 2024

Providing you with the latest development update at Laguna & Glade.

Since our last update, construction on Laguna & Glade has continued to progress well. External Scaffolding has been removed, with hardscape works commenced to the Neighbourhood Green (raised planters and landscape planted areas).

Internal fit-off has progressed to final stages on upper levels, whilst an initial clean and preparation of units has commenced to the lower levels in anticipation of pre-settlement inspections in the new year.

Settlement Timing
We had previously informed you about an unexpected delay in our project timeline due to circumstances beyond our control. The electricity distributor has been engaged in Protected Industrial Action which has hindered our ability to establish a permanent power connection - a crucial step for enabling occupation and settlement, necessary for obtaining an occupation certificate.

Impact on Settlement
We have been provided a tentative date in February 2025 for permanent power connection. Pending if this connection proceeds, we will be in a position to allow settlements to occur approximately 4 weeks after. It should be noted that we previously had a date in provided in November 2024 which was subsequently cancelled by the distributor.

Our Commitment
Out project team is collaborating with all relevant parties to ensure the power connection is established as soon as possible.

We will keep you updated with any new information, including details about valuations, pre-settlement completion inspections and construction updates. At this stage we are looking to commence pre-settlement inspections once permanent power is connected, and will be contacting each of our purchasers individually to confirm dates.

Next Steps
We will continue to work with the relevant parties to provide our purchasers with all available updated on progress, as additional information comes available to us.

We sincerely apologise for the inconvenience caused by these issues, which are truly beyond our control and are committed to assisting you through the settlement process. Please email us at [email protected] with any further questions. We will keep you fully informed of our progress on these issues.