SCA (NSW) Director r
epresenting the Strata Owners Chapter, Catherine Lezer, provided some expert commentary on Sky News Real Estate: The Development program on 18 July 2018.
Catherine discussed the hot topic of collective sales of apartments by owners for redevelopment including the challenges owners may face doing this. This follows the change to NSW laws in 2016 enabling 75 percent of owners or more to agree to sell the building.
Catherine explained the steps in the process and the safeguards in place to protect those who are opposed to terminating the strata scheme to allow sales to developers or collective redevelopment.
She explained that a number of owners are taking control of the process, deciding what they want and then in some case approaching developers to achieve what they want.
This is an excellent commentary on this top and not to be missed. Click through to the Media Centre to see the entire interview here starting at the 7-minute mark.