You’ve seen it all through the media Opal Towers, Mascot Towers, Erskineville & Zetland!
Is this really big news? The simple answer is YES…..but is it bigger and beyond these buildings?…..YES.
Let me tell you a little about what the truth is behind all this debacle….
I’ve searched the records of 100’s of buildings throughout Sydney for current owners and prospective purchasers.
I’m not going the ruin the lives of the poor owner’s by disclosing the address, but I am going to rattle off a few suburbs.
Sydney CBD – $20M special levy, to fund the replacement of all glass as it does not comply.
Vaucluse – I’ve never seen so many Council Order’s issued on a building, remove balconies, fire compliance, safety compliance, water penetration issues and the list goes on.
Wolli Creek – A huge defect claim to fund leaking planter boxes, leaks within the building, outdoor tiles, waterproofing issues, drainage issues. There was a payout of circa $1,000,000 that did not cover the costs of all the repairs. This is a huge developer.
St Peter’s – This commercial property that we carried out an inspection of the Owners Corporation records for a potential buyer. Something didn’t feel right so I asked to speak with the Strata Manager. Thank god I did. The records made available to me didn’t include the resumption of part of the land (which included Lots within the Scheme) were being reclaimed for the construction of the motorway.
Lots Within the Strata Plan Was Subject To Resumption for the WestConnex
If you are considering buying a residential or commercial property that forms part of a strata plan do your due diligence and engage the services of an experienced strata inspector. It could save you $10,000’s. Click below
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