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ARTICLE · 26 NOVEMBER 2013

Unlocking urban renewal: Strata reforms to open up development potential

Clayton Utz
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NSW is planning some of the biggest changes to the regulations affecting the redevelopment of strata schemes in 50 years.

AustraliaReal Estate and Construction
Gary Best
Gary Best
Eugene Tan
Eugene Tan
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Key Points:

NSW is planning some of the biggest changes to the regulations affecting the redevelopment of strata schemes in the last 50 years, which should see more strata redevelopment.

On 14 November 2013, NSW Fair Trading released its position paper on strata title law reform outlining some 70 items which the new strata laws, which are yet to be drafted, will address. One highlight which developers will watch with keen interest are plans to make it easier to renew or "collapse" strata schemes for redevelopment.

Likely to be received as good news for developers, the paper proposes a streamlined mechanism for winding up and redeveloping strata schemes.

The need for reform to collapsing strata schemes

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