Strata Collective Sale or Redevelopment

Hi All,

I was wondering if anyone here is in a current strata property and is currently considering or currently going through the process (or completed the process... probably a bit soon) of a Strata collective sale or redevelopment

The rules and law had changed last year at the end of Nov 2016 and I am currently considering on tabling a proposal at our AGM. Reason are mainly due to build age and the maintenance cost arent sustainable for the years to come.

Making a strata owner sell to a developer

Changes to collective sale and redevelopment of strata schemes in effect from mid-2016 :: Sparke Helmore



My preferred option would be redevelopment, although this would be the best outcome it most probably would be the the most difficult path compared with a collective sale.

I like where I live hence the redevelopment option but the collective sale can allow existing owners to buy back in after the developer has completed the development but i fear it will not meet my requirements and also the developer would have his own interests at heart to maximise his return.

Would be great if anyone could also share a developer who would be interested these type of projects?

I would also like to hear experiences on how the whole process went and if you had any valuable advice to share.

Thanks

D.