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Investors burn: Melbourne hits LaCrosse apartment owners with new cladding cost

Michael Bleby

The City of Melbourne has given the 400 owners of apartments in the LaCrosse residential building in Docklands a year to replace the building's non-compliant cladding with panels that meet Australian fire-safety standards.

Individual owners of the 328 units and the body corporate will bear the burden – which could range between $300 and $450 per square metre in materials and another $300 per sq m in scaffolding, fixing and other costs – of replacing panels that contribute to the rapid spread of a fire from the eighth floor to the roof last November.

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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com

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    Original URL: https://www.afr.com/real-estate/investors-burn-melbourne-hits-lacrosse-apartment-owners-with-new-cladding-cost-20151025-gkiahv