NSW to review strata and community title laws
New South Wales is the birthplace of both the strata schemes and community scheme models. 2011 was the 50th anniversary of the first strata laws which were introduced in 1961. These ground-breaking approaches to land title have since been adopted across Australia and around the world. Norwest Business Park and Castle Hill, where Coutts conducts a large proportion of its business (as well as surrounding commercial/industrial areas) comprise a large number of strata and community schemes, many of which are highly complex, mixed use facilities.
In view of the significant development of strata schemes (both in terms of number and complexity), the New South Wales Government plans to commence a review of the State’s strata and community title laws in mid-2012, which may include significant amendments to the existing legislation. For the complex schemes located at Norwest Business Park, the current strata and community title laws are not sufficient to deal with the range of issues arising. A thorough review of the laws and associated regulations, with a view to updating those for the modern environment, is therefore welcome.
To support this reform, public policy think-tank Global Access Partners (GAP) is hosting an online community consultation on Open Forum to give individuals and businesses affected by the reforms an opportunity to voice their opinions, share their experiences, raise specific issues or concerns and suggest possible solutions.
Coutts, with its experience of managing strata and community titled property for over 50 years, will be making a submission and encourages all parties involved in such schemes to do the same.