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Investors to miss out on Mascot Towers rescue plan

Most owners will get only modest compensation in the exit offering – but investors will get nothing except some tax deductions.

Jimmy Thomson

In the quantum of misery that is the Mascot Towers tragedy, it’s hard to tell who has suffered most.

Is it the elderly couple who should be putting up their feet in an apartment worth an estimated $2.4 million but are having to live with their daughter? If more than 75 per cent of their neighbours agree to the NSW government’s rescue plan, they will have to look for a new home with only about $400,000 to spend.

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Jimmy Thomson edits the strata living advice website flat-chat.com.au and hosts the Flat Chat Wrap podcast. Email Jimmy at mail@jimmythomson.com

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    Original URL: https://www.afr.com/wealth/personal-finance/investors-to-miss-out-on-mascot-towers-rescue-plan-20240115-p5ex92