Apartment owners slugged millions to replace flammable cladding

Sunday 2 December 2018

It was recently reported that the owners of the 328 apartments in Melbourne’s Lacrosse tower are facing an estimated $10.7 million to replace dangerous flammable cladding. These owners have also lost around $1 million in rent and emergency accommodation costs, and over $500,000 in insurance premium hikes.

Now, Sydney apartment owners are also being stung by millions in costs and are embroiled in legal battles to replace dangerous flammable cladding. From News.co.au:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.