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the construction zone via the thoroughfares of common property registered to the
Owners Corporation, against the need for quiet use and enjoyment of the property
by its new owners. Further issues relating to noise, cleaning and damage arose
which required a high level of management.
In addition to the complicated staging of the building completion, the project
commenced shortly after wholesale sweeping amendments to the Unit Titles Act
and other consequential amendments of legislation occurred. Materially for this
development, it became necessary for the developers to provide a much higher
level of disclosure than had ever previously been required, in relation to the
operation of the Owners Corporation.
At the time there was little to no experience within the marketplace to deal with the
new disclosure obligations, and many of the consequences for failing to comply
would have been severe, while others remained uncertain.
Key Benefits / Outcomes
As one of the first complicated developments to launch following the increased and
uncertain disclosure obligations, the process undertaken provided an extremely
valuable template for future projects in relation to planning and forecasting for Strata
Titled developments.
The success of the activities undertaken are evidenced by a number of points:
Nil occurrences of disputes arising from the disclosure documentation
provided at the outset of project launch
Accuracy of operational budget forecasts to within an insignificant margin of
error
Replication of the process undertaken with this project as applied to further
developments across the market
Broad acknowledgement and acceptance of the process undertaken by
industry peers (conveyancing professionals, agents etc)
High level of education / exposure of the process across the industry