Urban Renewal

Compulsory Land Acquisitions - New Owner Rights

Amendments to the Land Acquisition (Just Terms Compensation) Act 1991 (“Act”), which commenced on 1 March 2017, give owners some significant new rights.

Strata Renewal Plan Proceedings | Court Expectations Uncovered

Developers proposing projects involving strata renewal plans face a crystal ball gazing exercise.They need to predict the requirements and attitudes of the Court considering an application for orders implementing a strata renewal plan. The difficulty is the novelty of these applications, with the Court not as yet having made orders implementing any strata renewal plan.

The Sydney Metro Rail Project - Does it affect you?

Property owners, including owners corporations and their strata managing agents, have been receiving letters from Transport for NSW (“TfNSW”) in relation to the Sydney Metro rail project.

Strata Renewal - Lot Owners' Consent is Required for DA

Each lot owners’ consent is required for any DA relating to the ‘whole’ strata scheme

Under the new Part 10 strata renewal provisions in the Strata Schemes Development Act 2015 (SSDA 2015) there is no special power given to an owners corporation to lodge a development application over all lots.

Collective Sales - Windfall When Neighbours Work Together

Strong pressure on Sydney property prices and an acute shortage of suitable development sites has made it possible for neighbours acting together to achieve excellent prices for properties which in aggregate represent a suitable development site. This is illustrated by the recent sale of nine St Leonards houses, which were sold for more than $66 million to a Hong Kong based investor.

Collective Sales – Where Owners Come Together to get the Best Results

‘Collective Sale’ has been a property buzzword in 2016 – state and local government zoning changes, together with the changes that the Strata Schemes Development Act 2015 now bring, make collective sales a hot topic right now.

Urban Renewal - The Importance of the Returning Officer

The Strata Schemes Development Act 2015 and the Strata Schemes Development Regulation 2016 commenced on 30 November 2016. One of the most important reforms effected by the act is the urban renewal mechanism contained in Part 10, which may permit the collective sale or redevelopment of strata schemes, without unanimous agreement of lot owners being required. We are already encountering developers and lot owners pushing forward with proposals, with a view to moving quickly when the act comes into force.

Navigating Strata Urban Renewal: Commercial Gain – vs – Home Ownership

One of the most important reforms effected by the act is the urban renewal mechanism contained in Part 10, which may permit collective sale redevelopment of strata schemes, without unanimous agreement of lot owners being required. We are already encountering developers and lot owners pushing forward with proposals, with a view to moving quickly when the act comes into force.

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