Hi All.
Is it possible to join 2 strata titled units together to make one (which share a common wall) somewhere in a block of units ?
What sort of obstacles would you expect to encounter and how to overcome them. ?
For example, I've seen 2 x one bedroom units across the road from a beach at $330K each around 63m2 each and if joined could produce a 3 brm 2 bath unit circa $1m.
This opportunity has presented itself a few times but I've never had the knowledge to go for it, and the challenge of BC approval is daunting.
Any ideas or experiences in this area ?
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
You should find the process actually easier then going from say 1 block into 2 blocks.
It's basically amalgamation of titles.
Issues might be seeking approval from the strata corporation. If In a unit complex of say 4 units – if you owned 2/4 it wouldn't be a problem. But if it's like 20 units- could require the majority which means getting people onside.
from a building prospective. Just follow up because sometimes the joining wall between units is actually the firewall and you might need to have that removed (usually goes into the roof of single story homes. Might be a bit of cost in just coming up with a layout that Is going to minimize moving plumbing layouts / toilets and you may have to check which internally timber walls are structural to rearrange the floor plans.
Sounds like a pretty good idea to me. If your end values : buying prices are correct.
For a time- value and capital outlay return seems pretty good.
You see this occasionally in commercial office blocks where they may for instance want to join three offices together to take up the entire floor as one lot. Some people try to do this to reduce their contribution or interest entitlements which seldom works in their favour. Amalgamating lots will require the consent of other owners and they aren't going to agree if it means your contribution to the body corporate's levies go down (which means theirs goes up).
But if your intent is simply to join the lots but still pay the same share of the body corporate levies it is unlikely you will have much objection from the other owners unless there are other factors at play.
Keep in mind that legislation around bodies corporate differs from state to state so it may be a good idea to do your homework. In Queensland you can speak to the office of the commissioner for body corporate and they should be able to give you free advice on the process and what needs to happen. I imagine other states have a similar service.
Hank
Would you need to amend the strata plan to reflect the new configuration?
In say a block of say 16 units for example where it's 4 levels or 4 on each floor, if you're merging 2 on the ground floor,, are the engineering issues major where you'd be opening out a dividing wall perhaps to create a larger flow through lounge room for max view ? Assuming the wall is structural – is this a def no-no or can it be done without employing Lend Lease ?
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Not really engineers can solve most structural loading problems. Steel I beams can support a fair bit of weight. So you just need to get the engineers report. Which if you are on ground floor to level 3 could get expensive. As would have to calculate the entire load above.
I use a Surveyor for this; you will need an Architect and some engineering plans too. All very easy, start with all of those three BEFORE you talk to the Strata Committee or you will create a bunch of extra work as everyone runs around talking a lot of hearsay and creating you a whole lot opposition.
Go to each of the Strata Committee members with the plans and deal with them one at a time. Don't be any kind of a hurry, listen and ask them what they are worried about and tell them you will get one of the 3 listed above to answer their concerns. It works, trust me I have learned the hard way.
Modernity Investing
Email MeI tried to upload an image of this property to this post but can't do it. Can anyone give me instructions ? The box asks for a URL but pics in my PC in the "My Pictures" folder don't have a URL as such. Any help appreciated .
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
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