Desperate Mascot Towers Owners Try to salvage Loss.
Retailers on the ground floor at Mascot Towers have taken steps to attempt to block any sale of Mascot Towers.
Owners at the troubled Mascot Towers are being urged to sell, with many facing a loss of between 70% to 80%. Facing bankruptcy, I can appreciate why people want this nightmare to end.
Retailers in Mascot Towers have been given a Christmas present as they are now allowed to remain open during the festive season.
Mascot Towers Owners are considering the sale of the entire building.
#MascotTowers #Defects #HeiseSays New cracks have been discovered at Mascot Towers. References https://www.abc.net.au/news/2019-10-15/mascot-towers-warnings-of-structural-failure/11604326
#MascotTowers #Construction #Economy #HeiseSays Owners of the troubled Mascot Towers are facing a potential bankruptcy over a difficult funding decision. References Mascot Towers residents given two ‘very bad’ options after building failure https://www.smh.com.au/national/nsw/mascot-towers-residents-given-two-very-bad-options-after-building-failure-20191009-p52z0e.html
#Mascot #Construction #Repair Over a third of Mascot Towers Owners cannot afford their $60k repair bill and because of thermal loading on the building in summer, time is running out. Should the state government step in and help these people or is this an example of Caveat Emptor? References Many Mascot Towers owners can’t pay […]
#MascotTowers #Cracking #Construction The Owners from Mascot Towers are facing the prospect of a lifelong repair bill. While they are calling upon the state to step in, I want to ask if it was possible for new purchasers to identify the construction issues. Could a building dilapidation and pest inspection have identified these issues? References […]
#MascotTowers #Construction #Repair The Mascot Tower Repair bill is now estimated to be between $10,000,000 and $20,000,000. This means that unit owners may be required to pay up to $100,000 each in an environment in which the banks won’t lend to them. We need to start thinking about alternative approaches and solutions to the issues […]