IQ Apartments

Nishi Edinburgh Avenue, Canberra

Key Responsibilities:

 Provide advice to the developer in relation to compliance of legislative requirements  Consider implications of and provide advice regarding Stratum subdivision  Preparation of compulsory documents necessary for compliance with the Developer Disclosure Obligations  Consult in relation to practical implications of building design and operation  Procure service agreements in relation to ongoing building operation  Preparation of budget forecasts for operational and capital expenses of the building  Consult with key stakeholders including finance partners, agents, purchasers and solicitors  Review documentation dealing with transfer and grants of easements rights and obligations  Establishment of the Owners Corporation and preparation of inauguration documents  Assist in preparation of Shared Facilities Register  Assist with the settlement of purchased properties at instruction from solicitor & developer  Implementation of strategic and operation plan following completion and settlement  Assist new building owners with transition of responsibilities  Assist with joint commercial building management strategy  Troubleshooting with precinct issues in relation to commercial uses e.g. waste management In addition to being complex in its built environment, Nishi stands out as one of only two „Stratum‟ developments in the ACT, and certainly the most layered and ambitious. Further drawing on the need to create a genuine separation of rights and obligations across different property types, the developers of Nishi ultimately made the decision to create subdivisions in airspace to accommodate a joint structure encompassing residential apartments, hotel accommodation, retail and office space. Each component of the development sits on a separate crown lease to the other, and the residential apartments are further subdivided into a Units Plan within the parcel from levels 4 and above. Although developments of this nature are not uncommon in other mature markets, this is essentially the first of its kind in the ACT. The unique tilting of the development is further complicated due to the fact that the developers reached the decision to create a „stratum‟ subdivision after already launching the development under an entirely different proposed titling structure. The initial brief was to provide documentation necessary to comply with the developer‟s disclosure obligations, which was achieved and assisted in the initial successful launch of the apartments. Subsequently it was necessary to review all of Nishi is a landmark and cutting edge mixed use development located along the shores of Lake Burley Griffin.

Challenges & Learnings (overview)