Are We Ready for a Collective Sale?

Our building is more than 20 years old.

Older buildings often face increasing maintenance costs, making redevelopment more attractive.

Maintenance costs or special levies have been rising steadily.

Growing costs can be a sign that the building is reaching the end of its economic lifecycle.

We've received recent quotes for major repairs (e.g., roof, plumbing, facade, lifts).

Facing major capital expenditure is often a trigger for owners to consider redevelopment options.

Most apartments remain in original, unrenovated condition.

Original condition apartments make redevelopment more financially viable compared to recently renovated units.

Our site is zoned R3 or R4 (medium or high density).

This zoning typically allows for higher-density redevelopment, increasing site value.

There are new developments or visible developer activity nearby.

Nearby development activity often indicates market interest in your area.

Our building's layout (e.g., corner block, large frontage) would appeal to developers.

Site configuration significantly impacts redevelopment potential and developer interest.

More than 50% of units are owned by investors (less emotional attachment).

Investor-owners typically focus more on financial returns than emotional attachment to the property.

Owners have previously expressed some interest in exploring a collective sale.

Prior discussions indicate potential openness to the idea, which helps build momentum.

Our strata committee is open to seeking independent advice (such as Konsensus support).

Committee support is crucial for organising the exploration phase effectively.

Our site has no major heritage restrictions or planning barriers.

Planning restrictions can significantly affect redevelopment potential and value.

We are within 800m of key infrastructure (train station, light rail, major bus route).

Proximity to transport increases development potential under many planning frameworks.

Our zoning allows for increased floor space ratio (FSR) or additional height under council plans.

The ability to build higher or denser improves development feasibility and increases site value.