Property developers in legal tussle over iconic Durban high-rise
One side cancels sale because of ‘breach of contract’, while buyers pause deal on fears that sellers face liquidation
An iconic high-rise in Durban is at the centre of a legal battle between two property developers.
At the heart of the matter is the R205m sale of 30-storey 320 Pixley, formerly 320 West, located in the CBD on Dr Pixley Ka Seme Road.
Intrepid Heights, part of urban regeneration group Urban Lime, says it cancelled the sale of the building to property group Centura on May 5 because it was in breach of the sale agreement after missing deadlines to provide bank guarantees...