Tuesday, 21 November 2017
Strata Renewal Plans and Strata Renewal Proposals – Will the redevelopment of redundant apartment buildings be more achievable for owners and developers?
Date : 16 March 2017
Author/s : David Blackburn, Helen Macfarlane
Type : Focus Paper
 

 

The Strata Schemes Development Act 2015 that commenced on 30 November 2016 offers significant benefits to the development industry by way of a new process that enables lot owners to end outdated strata schemes for sale or redevelopment purposes.

 

Previous strata legislation placed considerable constraints upon the ability for strata buildings to be sold or redeveloped, because the end of a strata scheme required the support of 100% of lot owners.  The Act makes the redevelopment process more achievable for both owners and developers by requiring the support of only 75% of lot owners to end a strata scheme.

 

To view the full article click here.

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