Sale of a strata scheme plus surrounding houses and compulsory acquisition

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  • 26/04/2018 at 1:36 am #9247 Reply | Quote
    TinMan

      Hi,

      A developer intends to create a large block of land for development by buying ten adjoining house blocks plus the collective sale of the strata scheme of townhouses I am in. The area is zoned for high density development.

      At various meetings, we have been told that if the developer gets agreement from at least 75% of house owners then they can compulsorily acquire the townhouse strata scheme as part of the consolidated development block, even if less than 75% of strata lot owners disagree.

      The strata scheme is more than 20 years old. 

      Does any law existing in NSW that allows for compulsory acquisitions (as detailed above) in areas zoned for high density development to enable the consolidation of smaller blocks of land?

      Many thanks

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    Reply To: Reply #20130 in Sale of a strata scheme plus surrounding houses and compulsory acquisition
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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