Mascot Towers bill explodes

Why would anyone buy an apartment today? Via the ABC:

Unit owners in Sydney’s evacuated Mascot Towers building have learnt the repair bill could blow out to $20 million as construction engineers zero in on what caused the complex to crack.

At an extraordinary general meeting in Sydney on Thursday night, the owners of units in the beleaguered towers complex voted to raise $7 million in special levies for remediation works to start.

The meeting was also told the repair bill for the remediation works at the 132-unit block could run as high as $20 million, which is about $150,000 for each unit

They had earlier rejected a $10 million special levy loan, which would have incurred more than $3 million in interest, and will begin paying the first instalments in October.

Resident Brian Tucker said it was an exhausting night.

“There’s a lot of people that are really financially stressed, people are just so distressed,” he said.

Engineers, who have been assessing the damage at Mascot Towers and believe they know what caused the building to crack also spoke at the meeting, which ran for more than four hours.

However, they did not make their report public.

Patrick McGuire, from the building’s owners corporation, said the engineers had been focusing on the “construction and development work” in a nearby area.

“The engineers indicated that the building had to be stabilised … they had in their view some fairly clear ideas about some root causes as to the building (cracking),” Mr McGuire.

“The only detail that I’m prepared to say is that it related back to construction work within the general precinct.”

Residents were evacuated in June due to cracking in the primary support structure and have since been living in temporary accommodation.

Last week, NSW building commissioner David Chandler launched an attack on the builders of the troubled towers complex and described the development as one of the most poorly built constructions he had seen.

“I’m quite certain that the builder didn’t know how to read any construction plans, because the faults that are in that building are simply someone who didn’t pay any attention to them,” he told a NSW Upper House inquiry.

The ABC understands Bayside Council officers had on Monday accompanied the Building Commissioner for an on-site inspection of the building next door to the towers, at 27 Church Street.

The developers of the adjacent building denied the construction at their site was in any way to blame and that the “existing damage” at Mascot Towers was unrelated to them.

Residents have been told there may be a staged return into the building and that some of them maybe able to move back into the apartment block early next year.

The Mascot Towers fiasco came after another apartment building — Opal Tower, at Sydney Olympic Park — had to be evacuated on Christmas Eve last year after cracks were discovered.

“We come to this country thinking of how much of a future we’ll have compared to back home, but we end up like this,” said a Mascot Towers resident who requested anonymity.

“It’s not fair. Because of someone else’s fault we will have to bear all the consequences.”

Comments

  1. Chandler said it best when he said that (I translate) “the problem is that the tower was built by shtcnts”.

  2. ““We come to this country thinking of how much of a future we’ll have compared to back home…It’s not fair.”

    screw that resident – he expected to make easy money by property speculation rather than old-fashioned hard work.
    Now he’s going to expect us to pay to bail him out…while he would have kept any gains to himself.

  3. “We come to this country thinking of how much of a future we’ll have compared to back home, but we end up like this,”

    How about the locals and the youth of this country? Do we care about them too? Or only those “imported” to prop up the housing bubble?

    • “We come to this country thinking of how much of a future we’ll have compared to back home, but we end up like this,” said a Mascot Towers resident who requested anonymity. It’s not fair. Because of someone else’s fault we will have to bear all the consequences.”

      Exactly. Because of the fault of the Federal Government in running a population ponzi, existing Sydney residents have to bear the consequences of the reduced amenity and living standards.

  4. What an idiot David Chandler is. The engineers are saying “The only detail that I’m prepared to say is that it related back to construction work within the general precinct.”

    Chandler says “I’m quite certain that the builder didn’t know how to read any construction plans, because the faults that are in that building are simply someone who didn’t pay any attention to them,”

    If I were the builder, I would be suing for defamation if the strata has any luck bringing proceedings against any of the neighbouring developers.

    • Yep, the guy is full of bluster and busy pointing fingers to cover up for the role the NSW Gov has had in this debacle. The Mascot Towers were certified start to finish by the local Council, so he can’t blame private certification for this one. If the builder fvcked up so badly, why wasn’t it picked up by the council building inspector?

      • You appear to be supporting a taxpayer bailout.

        Such views are not welcome here. Fvck those pr1cks. Suck it up, buttercups. Live and learn

      • Kristina Kenneally was the planning minister when mascot towers was built. Ron Hoenig (current ALP member) was on the council. Why would the current govt be trying to save them?

  5. “It’s not fair.”

    I wonder when the classic Australian defence will be uttered …. It sounds ‘unAustralian’

  6. “Why would anyone buy an apartment today?”

    My life story of only being able to afford an apartment but knowing they are dodgy. If I had my way again I would have parked my money in a house or two outside of Sydney or Melbourne, and continued to rent a dodgy apartment in Sydney.

  7. The Horrible Scott Morrison MP

    The bible tells us to put a third of our wealth into business, a third into gold, and a third into LAND. This is God’s way of punishing the ungodly heathens who buy units. Following God’s word will make one rich.

  8. Last week, NSW building commissioner David Chandler launched an attack on the builders of the troubled towers complex and described the development as one of the most poorly built constructions he had seen.

    Well Strewtherama, he can’t have looked very far then, eh?

    And the building commissioner says it’s a sh1t building, while the builders are saying “Nah, it was great, the fault was caused by neighbouring works”. I wonder how that’s gonna play out.

    “We come to this country thinking of how much of a future we’ll have compared to back home, but we end up like this,” said a Mascot Towers resident who requested anonymity.

    That made me laugh so hard that milk shot out of nose, and I’m not drinking milk right now. Poor old Pajeet. Heh heh heh.

    • What annoys me most is that it’ll work: cry loud enough and big daddy warbux will come to bail you out with our money – not out of some sense of charity but because if they don’t, a bank might have to wear this and we can’t have that. Not in Stralia!

      • Even StevenMEMBER

        It’s got nothing to do with protecting banks, Tony. It’s got everything to do with the Government avoiding A Current Affair segment on how derelict they’ve been in ensuring construction standards.

    • Yup, it was going to be a run-of-the-mill beer for me tonight but I’ll toast that gem with some expensive bubbles instead.

  9. One apartment listing in Mascot Towers was withdrawn when buyers started making low-ball offers after seeing news of the cracking beams.

    The large one-bedroom with study had a price guide of $750,000 to $770,000.

    “We had a lot of ridiculous offers but we take those with a grain of salt,” MGM Properties’ Michael Xylas said.

    “We don’t consider our clients are that stupid … it’s almost insulting.

    “We’ve had offers as little as $1000, $10,000, $100,000.”

    https://www.domain.com.au/news/mascot-towers-potential-buyers-make-low-ball-offers-on-apartments-in-cracking-sydney-building-851020/

    😀

  10. Forrest GumpMEMBER


    We come to this country thinking of how much of a future we’ll have compared to back home, but we end up like this…It’s not fair. Because of someone else’s fault we will have to bear all the consequences.

    Welcome to Straylia.

    Although we are proud millions like yourself have you come here and buy our real estate and provide thousands of jobs in the building industry, we request that you refrain from such untrue and derogatory comments that will impact the sales & profitability of the stock thats unsold and yet to be completed.