- This topic has 1 reply, 2 voices, and was last updated 3 years, 1 month ago by .
A developer intends to create a large block of land for development by buying ten adjoining house blocks plus the collective sale of the strata scheme of townhouses I am in. The area is zoned for high density development.
At various meetings, we have been told that if the developer gets agreement from at least 75% of house owners then they can compulsorily acquire the townhouse strata scheme as part of the consolidated development block, even if less than 75% of strata lot owners disagree.
The strata scheme is more than 20 years old.
Does any law existing in NSW that allows for compulsory acquisitions (as detailed above) in areas zoned for high density development to enable the consolidation of smaller blocks of land?
- You must be logged in to reply to this topic.