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Topic
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Is it possible to create new units in a strata plan by developing/building additional units in the backyard? – STCA! Our yard is quite large and possibly could hold a small granny flat of 1-2 storeys. I imagine this could be of benefit to the OC, that 75% would have to be in agreement and that some compensatory payment again might be in line. We live on the top floor, love our location but our ageing knees mean we need to start thinking 5-10 years down the line to when we can’t climb 3 flights. The yard would need re-landscaping and improvement, just wondering if this is at all possible?
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It can be done but seek a legal opinion. It appears that the new Lots will be created from the existing Common Property. The new Lots will probably be classified as a Subsidiary Scheme of the original scheme.
Some more info here: https://rgdirections.lpi.nsw.gov.au/strata_schemes/requirements_for_a_strata_plan
and https://rgdirections.lpi.nsw.gov.au/strata_schemes/after_scheme_commenced/subdivision_of_common_property_only
Under the new “collective sales” laws coming in at the end of the month, 75 percent of owners would be able to bring in a developer or builder in to build and sell new units to pay for the upgrade of the rest of the building.
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