city apartment blocks leasehold – life cycle

hi,

there is an appartment block in the sydney city called the peak apartments which is on a 99-year leasehold.

And here are my questions [biggrin]:
1) say I buy at 90 years left on the lease what happens to the apartment after the 90 years? Will I be compansated for the value the property at the time (I think the gov owns the lease?)?
2) Or will my investment clime for a while and then slowly decline to nothingness the closer we get to the 99 year mark?
3) I assume an apartment building wouldn’t last that long anyway? What happens if the building is rebuilt?
4) What is generally the life cicle for apartment buildings in the city?
5) Even if I bought into an apartment on freehold land would I have a say if the building ever had to be rebuilt?

I’m just wondering, as I can see that apt buildings of 10+ age, are alreay considered old in the CBD?? Just how valueable is my investment in the longerm then?

I appreciate you wading through my ramblings and would very much appreciate any feedback. thanks [grad]