New Strata Titles Act Requires only 75% Majority
Located in: Blog
With the ability of our company to seek out new investment opportunities, we see a huge potential in some of the older blocks of apartments sitting on valuable land in and around the Perth city, to be now handed a marvellous opportunity to re-package and unlock the redevelopment potential of some of the valuable land these blocks of older apartments currently sit on.
When the new law gets passed, it will only take a 75% majority to ensure that major decisions such as redevelopment can occur. Indeed we’ve seen this practical application ring true a couple of times in Sydney’s more valuable land areas.
Currently with 100% unanimous decision for consent to be required, it can prove difficult to get these off the ground. Now would be the time for prudent investors to start doing their homework on areas they think could benefit from the change in Act.
January 5, 2018
Posted in: Blog