i found a property for sale it is a 6 unit apartment block. there is one thing i don't understand. the block is not strata. does that mean that i can't sell the units individually? is so what are the ways around it? what can i do to make sure i am allowed to sell them individually?
thank you for all your help
Jerome Leray
Jerome – you should be able to 'strata title' subject to council approval, by doing so this will ultimately increase the overall value.
It is only once the block is strata titled that you can sell individual units.
Go see the local council and make enquiries … (town planning)
cheers
Basically you will need to undergo the process of stratification ie engage a surveyor, submit an application for subdivision, prepare strata title subdivision (create new strata plan & lots, lot entitlements etc), undertake any work required to make the units comply with the Building Code of Australia (fire separation, fire doors, hose reels, exit/emergency lighting, fire hose reels, noise separation etc.
You will of course need to confirm with council that strata subdivision will be permissible on the block.
…. as I said, talk to council 1st … DO NOT engage the services of surveyor etc. as yet … you may blow your money if town planning object – there is a sequence of events, council will guide and advise you of the steps required.
Depending on the age and location of the property you may find that Council cannot object.
This is certainly the case in Brisbane if the building is pre the 74 Building Act.
Richard Taylor | Australia's leading private lender
thanks alot. i think my next step, thanks to you guys is to call the council.
thanks heaps
Jerome
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