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Almost two years after Mascot Towers was evacuated, owners will meet on Thursday evening to discuss the collective sale of the property in a bid to end their nightmare.
Residents will attend an informal information evening at The Juniors Maroubra club to discuss their limited options. The future of the building will be decided at an extraordinary general meeting in about two weeks when owners will vote on the preferred outcome.
The possibility of selling the 132-unit block in Sydneyâs south was first raised in May last year.
Credit:SMH
Mascot Towers Owners Corporation chair Gary Deigan said while owners had sought rectification of the property, high engineering and construction costs had left them in financial strife, with many unable to meet bank repayments.
Mascot Towers: residents to consider selling building after exhausting all options smh.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smh.com.au Daily Mail and Mail on Sunday newspapers.
The Mascot Towers complex in Sydney s inner south was evacuated in June 2019
Residents have been unable to return due to major cracks found in the building
Retailers including a supermarket on the ground floor have continued to trade
Access to those businesses was originally going to be blocked by December 18
A reprieve moved back a deadline for safety compliance measures to January 29
Mascot Towers Owners Corporation said the fencing was required by SafeWork
Leaning and unstable Mascot Towers poses genuine safety risk to public , letter claims
MonMonday 14
updated
MonMonday 14
Scott Hill and Ward Mellick are preparing to vacate their supermarket due to safety concerns.
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Sydney s trouble-plagued Mascot Towers are leaning and remain so unstable, businesses in the building will no longer be accessible from Friday, a legal letter has revealed.
Key points:
Owners now face a multi-million-dollar repair bill
According to a legal letter, the building remains unsafe 18 months after the initial damage was found
Such is the risk to public safety, the owners of shops and restaurants on the building s ground floor have been told an exclusion zone will be set up around some areas next week.