Resolve Error: SBT 0.12.4+ required on importing Play project using SBT 1.0.2

I created a new Play Framework project and specified SBT version 1.0.2.

When I try to create a new (SBT) project from existing sources in IntelliJ, it complained:

Resolve Error: SBT 0.12.4+ required. Please update project build.properties.

It's a completely vanilla project that does run without errors from the command line, via "sbt run"

Any ideas?