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A fraction too much waterfront friction

28 Feb 2007
WHEN the $650 million residential revitalisation of the Walsh Bay wharves was announced in the late 1990s, the consensus in the property industry was that it would be one of the most exclusive addresses in Australia. Prospective buyers in 2000 had to pay a $10,000 refundable deposit just to inspect an apartment off the plan. And as one owner, Elizabeth George, recalls, staff from the developer, Mirvac, gave her less than an hour to choose an apartment, so intense was demand to buy into the dream life on Sydney's sparkling harbour.
Sydney Morning Herald
Justin Norrie & Catharine Munro

When developers won’t let go

27 Feb 2007
Owner-managers have a finger in many pies, writes Jimmy Thomson in part two of a Herald series. RESIDENTS running part of the massive $1.65 billion, 52-hectare Breakfast Point village being developed on the shores of the Parramatta River sat stunned, unable to believe what they'd just witnessed. They were about to replace their developer-run building managers with an independent company when a representative of the developer, Rosecorp, cast its own votes and proxies at the annual general meeting to block the change.

Welcome to strata life, your paradise lost

26 Feb 2007
IT'S no castle, but it's yours. A home unit. Your little slice of paradise. Until you realise the developer who built your block has a cluster of proxy votes on the owners' corporation, so has more say than you do.
Sydney Morning Herald
Jimmy Thomson

The perils of urban renewal

20 Feb 2006
In Sydney it is obvious many strata apartment blocks are dilapidated and near the end of their lives. Under-maintenance from insufficient sinking and administrative funds is often as much to blame as age. For a building to be demolished and redeveloped, the strata scheme must first be terminated. This can happen either by application to the Supreme Court or by application to the registrar-general. The latter is the most common, as it is cheaper and easier. However, there is a catch. It is available only if all owners agree. It is impossible if one or two owners hold out, refusing to sell or agree to the termination.
Sydney Morning Herald
Cathy Sherry

Meriton fight leads to strata collapse

29 Jan 2003
The largest strata scheme in Australia has been declared insolvent and a new strata managing agent appointed, after the owners' corporation effectively put itself into administration. The move follows the discovery of a $500,000 deficit in the accounts of the 653-unit Regis Towers in Sydney city.
Sydney Morning Herald
Anne Davies and Sean Nicholls

Owners in high rise 'not told of fire risk'

06 Jun 2002
The owners of apartments in a city building were not told for five months that a fire order had been placed on their units, because the owners' corporation voted against telling them, it was claimed yesterday. The Regis Towers owners' corporation had voted "to put property values ahead of life and safety", lawyer Stephen Goddard told a parliamentary committee investigating building certification in NSW.

Owners In High Rise 'Not Told of Fire Risk'

The owners of apartments in a city building were not told for five months that a fire order had been placed on their units, because the owners' corporation voted against telling them, it was claimed yesterday. The Regis Towers owners' corporation had voted "to put property values ahead of life and safety", lawyer Stephen Goddard told a parliamentary committee investigating building certification in NSW.
Sydney Morning Herald
Anne Davies