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Jimmy Thomson

The latest twist in Mascot Towers saga means more heartbreak

The latest twist in the Mascot Towers tale means more heartbreak. It may be that a government buy-out and repair program is the only viable answer.

Two weeks ago, the NSW Supreme Court ruled that the majority owners of the Mascot Towers apartment block could not use collective renewal strata laws – often called “forced sales” laws – to engineer an end to their plight.

About 70 per cent of the remaining Mascot owners wanted to be able to sell the entire block, either for demolition or repair, which would ultimately have allowed them to walk away from their remaining responsibilities after their homes were declared unsafe and therefore uninhabitable back in 2019.

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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/the-latest-twist-in-mascot-towers-saga-means-more-heartbreak-20231206-p5epgh