Owners of apartments in the evacuated Mascot Towers building in Sydney are planning to sleep on the street to protest a damages bill of at least $76,000 per unit to fix defects, as questions continue on who will ultimately have to pay.
The owners face a $10 million bill – half the initial building cost of $22 million – to fix cracks in the building's primary support structure, according to the notice for an owners meeting to be held on August 22.
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Su-Lin Tan reported on housing, commercial real estate and property finance. She also covered China and Asian business, trade and politics. Connect with Su-Lin on Twitter. Email Su-Lin at stan@afr.com.au