Hoping someone might be able to point me in the right direction.
I am wanting to know if it is possible to purchase common property on a strata title to use for the redevelopment of a unit. I own a unit on a block of three and am contemplating rebuilding and possible expanding the size of the unit. The property is in Victoria.
1. Can I purchase common property
2. If so how would I go about starting this process. i.e. would my first point of call be council and then a conveyanor and then approach other owners
3. If the above is not possible, do strata titles have any restrictions on rebuilding on the same footprint, and or adding a story to a current one storey dwelling.
Any advice our suggestions greatly appreciated
welcome Yasnat
1 – No
2 – See 1
3 – you willneed to purchase all of the units, consolidate the lots into one, then (after DA/CC/Construction) apply for a new strata subdivision showing the new lots as created & register a new strata plan.That is why it is not done.
Hey,
It is possible to purchase common property ( although almost impossible) the only way this can be done is for a unanimous resolution to alter the subdivision altering the CP to become a lot that is owned by the OC which then can be on sold. However I doubt you will be able to achieve this
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