Apartment buyers in what will be Australia's third tallest building, Brisbane's 92-storey Skytower, are scrambling to find top-up funds after valuations ordered by banks dropped by as much as 25 per cent.
The developers, led by AMP Capital and Billbergia, have hired lawyers Norton Rose Fulbright to pressure the valuers to upgrade the new valuations for the apartments which they say are not fair.
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Matthew Cranston was The Australian Financial Review’s United States correspondent Connect with Matthew on Twitter.
