News came out last week that the first “collective sale” under New South Wales’s “new” legislation has now been ordered by the Land & Environment Court. It seems remarkable that it has taken until now for the 159-lot mixed residential/commercial building in Sussex St, Sydney to set the benchmark given the legislation allowing the collective sale was part of the significant strata law reforms in 2015 and 2016. However, while remarkable, I would not say that this is surprising.
The legislation enabling a collective sale is complex – prior to the new legislation, all lot owners of a strata titled needed to consent.
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