Those who invested in apartments off the plan in Melbourne’s Sheraton Hotel throughout 2010 and 2011 might well have thought they were onto a good thing.

With a great position right at near the ‘Paris end’ of Collins Street, this hotel offered great views, luxury design and was right next to the Bar Lourinhã. Yet for the investor who forked out $2.195 million for unit 3001 in November 2010, things did not look so good after…