Thanks gents, I work for a large commercial builder, hence my advice has come through our own legal channels.

Not to worry, I still have a few ‘pins’ yet!

Thanks Anthony and Scott.

Currently the unit is owned by the developers business.

This will eventually be transferred into the OC once it has been established.

As a collective we have a few avenues we are pursuing, as we are trying to limit our exposure I will not go into detail.

I know he will not walk away, this particular developer has…[Read more]

Well I met with our legal council, and what the developer is doing is completely LEGAL.

An owners corporation can purchase property that is outside of its subdivision.

Furthermore this will make it impossible should we all decide (barr the apartment owned by owners corp for the building behind) to modify, build up, or sell collectively to a…[Read more]

I’m not in a mad hurry to be entering into negotiations. Ultimately any developer will want to maximize his profit and I know he will want to start selling them. So he still needs the other 14 owners to agree. The other thing I need to consider is developers are renowned for falling over so the last thing I want is the tower not to go ahead and…[Read more]

Thanks for your advice Anthony, this is what I am seeking. From the information I have been able to obtain the value of the developers apartments with guaranteed views would increase values by 150 – 200%

I feel the true value for the airspace would be a % of the projected increase of the apartments. This I would envisage be done via sworn…[Read more]