Ageing apartments in suburbs around Sydney, particularly in the eastern suburbs, lower north shore and southern beach suburbs, should be knocked down to make way for more modern replacements.
The report from UNSW’s Department of the Built Environment highlighted 17,367 buildings ranging from two units to more than 100 apartments constructed prior to the 90’s which could eligible for varying levels of redevelopment.
They also identified a large number of apartment blocks in Sydney’s eastern suburbs as “knock-down-and-rebuild”. Whilst the report makes for interesting reading there are some very real profitability issues that face developers and investors in carrying out the report’s prescriptions.
Other groups opposed any further developments which would install taller buildings in place of the current ones suggest investing in better transport infrastructure to avoid overcrowding and overshadowing issues.
Do you own an apartment in the lower north shore? Consider getting a building condition report and make sure your home or investment is up to scratch.
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Image by: Clifando Subagio