Mascot Tower owners call on government to stop ‘waking nightmare’

Property owners who splashed out on modern apartments have described the “waking nightmare” after being forced to flee and shell out for $10 million worth of repairs.

The owners of apartments in Sydney’s Mascot Towers have banded together two months after their forced evacuation to reveal the devastating impact the “waking nightmare” has had on their lives.

On June 14, nearly 300 people were evacuated after cracks appeared in the buildings in Sydney’s inner south.

Since then, the building has been deemed unsafe by engineers, with substantial cracks found in the primary support structure.

Residents have been forced to find somewhere else to live and only allowed back to collect their belongings.

On Wednesday, owners released a joint statement to reveal the extent of their stress.

“This ordeal is taking a severe toll on all of us affected, both emotionally and financially,” the Mascot Towers owners said.

“What began as the fulfilment of the Australian Dream for many of us 12 years ago has now become a waking nightmare. It is a fact that many of us are facing financial bankruptcy at the end of this.”

Mascot Towers, where residents were kicked out of because of cracks in the building in June. Picture: AAP/Matthew Vasilescu

Earlier this month owners were informed they could be facing a bill of $10 million just for the first stage of repairs.

Next Thursday owners will be made to vote on the $10 million “special levy” to fund the first part of the repairs, with loans to be repaid quarterly over 15 years.

A crack is seen in the structure of the Mascot Towers. Picture: Bianca De Marchi/AAP

One of the owners, Brian Tucker, told news.com.au that having an unknown amount of debt hanging over their heads has made it almost impossible to move forward.

“This unit we bought is a substantial investment and that is something that is dear to your heart. It has been unbelievable for two months and the prospect of selling it now is minimal,” Mr Tucker said.

“That investment has absolutely collapsed and on top of that we are faced with these huge bills. That is another huge burden on us. Is it $100 million dollars, $50 million dollars, we just don’t know.”

Residents have only been allowed back in to collect their belongings. Picture: Jane Dempster/The Australian.

The 64-year-old said the whole situation is incredibly unfair to the owners who have done everything right but are still the ones suffering.

He described the situation as “diabolically bad”.

“People are absolutely desperate. There is a 70-year-old lady who has paid off her unit and now because she can’t move back in there she is looking to move into a nursing home,” Mr Tucker said.

“How is that fair? That is not right.”

The owners have asked NSW Premier Gladys Berejiklian to put herself in their shoes. Picture: Joel Carrett/AAP

The owners have put the call out for NSW Premier Gladys Berejiklian to attend next week’s meeting, along with Minister for Better Regulation, Kevin Anderson, and Building Commissioner, David Chandler.

“We ask if they think that it is reasonable for honest, hardworking Australians to personally foot such costs as a principle, or should greedy, irresponsible corporates be held to account and be made to expeditiously right the wrongs they have created,” the owners said.

“We ask that they put themselves in our shoes, and tell us what is a reasonable amount of time for us to be absent from our homes, while being made to pay ongoing mortgages and additional living costs.

“We hope that we will not be given the brush off. This is no longer an isolated incident but an ongoing, endemic issue that affects all homeowners in NSW.”