Its a long shot, but does anyone know who the developer/builder was for this latest structurally compromised building. It’s reported that the building may have structural flaws. The address is 1-5 Bourke St Mascot.
TIA
Mascot Towers - Latest Faulty Building. Anyone Know Builder/Developer of This Building
RockyRaccoon on 15/06/2019 - 15:46
Last edited 15/06/2019 - 15:47
Last edited 15/06/2019 - 15:47
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it seems the MBA is also wanting to know who the builder was LOL
since the building opened in mid-2008. He said there have been serious, “dodgy” issues with the building since day one.
There is speculation construction nearby may have ‘‘dislodged’’ the Mascot block.This is an 11 yrs old building with ongoing problems
Different case from newly built Opal tower.
From SMH April 22, 2006 "Point of take-off"
MASCOT TOWER
At 1-5 Bourke Road, above the train station, there will be 122 apartments in Mascot Tower, due to be completed in 18 months. It is being developed by John Elias with architect Krikis Tayler.I found this yesterday too, couldn't find anymore details on that developer though.
Hey great detective work - thanks , its more curiosity on my behalf.
Negative gearing has contributed to crap apartments being built & schmucks buying them for tax benefits
Plenty of talk that the building next door may have caused this…
Yeah cause this building was cheaply done & can't withstand some movement.
CBD buildings can withstand other towers going up next door to them cause the REITS who own the property get it built to last 100 years
I say this from no knowledge in the subject, but I thought it was mainly up to the guys digging next to it to, I dunno, reinforce the hole they dig so this doesn’t happen next door?
From the pictures they are only look like fine cracks, but long ones hence why the structural engineers want to monitor it and check why its occurring. Its more serious if the cracks are like 1cm wide and you can put your hands into it or see daylight if in walls. Its going to be an issue as to who pays for it. 100% sure the engineer would have over designed it structurally, so then it could be pour workmanhip or caused by adjoining works. IMO
Stephen Goddard, spokesman for the Owners Corporation Network — an advocacy group for owners in strata schemes — said owners of apartments in the decade-old Mascot Towers development were no longer covered by the statutory warranty period and would now be left with a hefty bill.
"Consumers have nowhere to go in these sorts of situations, there's nobody for them to sue, there's nowhere for them to turn," Mr Goddard said.
The owners corporation would now pay for the cost of repairs to the building by raising strata levies, he said.
Mr Goddard said 80 per cent of all new apartment buildings were constructed with structural defects, many of which do not appear until the six-year warranty has passed.
"Anybody looking to purchase in a building less than 10 years of age is foolish because the defects will not have yet surfaced," he said."Don't buy anything less than 10 years old. You never buy off the plan, it's unsafe to do so," he said, adding that buyers should not assume any modern apartment building had been built to code.
Mr Goddard, who is also a strata lawyer, said the High Court had recently confirmed that developers and builders do not owe owners corporations any duty of care because owners corporations do not exist at the time of registration of the plan.
He called on the NSW Parliament to create a statutory duty of care to better protect consumers and said, so far, there had been no political incentive for governments to do so.
"Most of our parliaments are on a sort of junkie hit when it comes to the building industry, " he said.
"The more they help the builder build, the more stamp duty they get, the more council and water rates come in.
https://www.abc.net.au/news/2019-06-16/mascot-towers-owners-…
So in short, don't buy an apartment younger than 15 years old. It's bound to have been cheaply built because the government doesn't give two shits about the people buying it.
Not only that but many developers can stack owners corporations for the first 6 years and they just "investigate" or even bury issues and dont do anything until the 6 years have passed.
They can do this by getting proxys from non resident owners who have no idea of whats going on. They also retain a few apartments that they rent out, and they install building managers who are sympathetic to the developer.
As most owners really aren't aware of these games, they dont know what to look for when electing the home owners representatives,
wow that's frightening, defintely not buying new apartments soon unless they crash 50%
Wow Opal Tower 2.0
Australian economy is heading for a crash surely.
Subprime loans on apartments that are crashing in value due to dodgy works is a perfect recipe for disaster
https://www.abc.net.au/news/2019-06-17/mascot-towers-residen…
"I spoke to one lady yesterday and she said that she can't afford to pay back the bank based on the tenant not paying rent," he said.
WOW WTF? So this "investor" lady is solely relying on her rental income to repay her mortgage??
There's actually 2 defects in the building
This one here
https://www.propertyobserver.com.au/forward-planning/investm…
And then the Carpark one which caused the evacuation.
I was listening to shock jocks screaming that the Government should help these poor people.
Where do we stand with Government intervention when businesses don’t follow the building regulations rules? Should taxpayers money be expended to support apartment owners?
Should directors of some long deregistered companies be jailed?
I don't support the government should come in and assist the apartment owners using taxpayers money.
If they do, and the building gets fixed and somehow the building increase in capital gains, will the owners pay some part of profit back to the taxpayers?? I doubt it.
If my home need repairs, I expect to repair it using my own money, not cry to the government.
The owners have now started a gofundme page which angers me. Seems like every problem that involves money getting it fixed gets thrown up for crowdfunding. RIDICULOUS!!!
https://www.gofundme.com/f/mascot-towers-emergency-fund?memb…
So apparently our taxpayer dollars will support them to the tune of $3million
Yeh I've read, what a joke
$400 PER NIGHT??? That's $2800 per week??
So the owners are profiting from taxpayers!!!!!
For $400 a night you can book a 5 star hotel with Food & Beverage provided. WOW!
Privatise profits- socialise losses.
Just revolting that well off people are asking for handouts, especially after all the benefits gained from negative gearing and taking advantage of increases in property values. So many people can't afford anywhere near what these places rent for.
I noticed the banks cleverly froze the mortgages of people in this place because they know once a few default then the whole thing will collapse in value, the banks only hold a small percentage of the money they lend so they are vulnerable.
Not sure if this will help. These companies are mentioned as the vendor/seller about 10 years ago for various units:
DAMJET PTY LTD (which deregistered!)
J & B ELIAS PTY LTD
CW Building
Unsure of the developer/builder but the building management is by BMAUS Pty Ltd.