4 AUGUST 2019
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.
“As the NSW premier has said, self-regulation has failed, leaving a legacy of defects and distress,” Owners Corporation Network executive officer Karen Stiles said. “The immediate task is to put in place a rescue package for strata schemes struggling right now.”
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