SERVICES

Bannermans Lawyers provides high quality specialist legal services to the strata, development, construction and insurance industries.

The firm acts primarily for owners corporations and strata managers, but also has many builder, developer and insurer clients. The firm’s focus is on Sydney, but the firm is available to provide services throughout NSW.

service
STRATA
The Bannermans Lawyers Strata and Development team understands the need to provide its clients with a client-focused and cost-effective approach into complex legal issues.

Their industry expertise and the ability to provide clients with practical solutions in a timely and cost-effective manner has made them Sydney’s leading strata law firm.
DEVELOPMENT
Bannermans has a team of experienced development lawyers with a wide range of industry expertise. Their specialist knowledge across residential, commercial and industrial sectors provide owners, developers, principals, contractors, subcontractors and consultants with first class end to end legal services.
CONSTRUCTION
Bannermans has a team of experienced construction lawyers with a wide range of industry expertise from ‘in-house’ construction company legal services through to the provision of trusted ‘private practice’ legal services.

Their specialist knowledge across residential and commercial sectors provide owners, developers, principals, contractors, subcontractors and consultants with first class legal advice focused on cost effective and pragmatic solutions.
INSURANCE
The specialist Insurance team at Bannermans Lawyers has substantial experience in a wide range of insurance issues relevant to the strata and construction industries in NSW.
11

years in business

30

team members

3000

satisfied clients

93

overall client satisfaction

9500

compliance pack visits in 2018

2

business days or less enquiry / retainer turn around time

How do we Make Money from Common Property?

Strata schemes want to utilise their common property to the best advantage available.

There are many different avenues available that we have assisted in such as:

  • Subdividing and selling roof space and air space areas above the roof as a development site
  • Subdividing and developing separate parts of the common property into new dwellings
  • Leases or licences over various parts of the common property for car spaces, storage areas and advertising spaces
  • Granting rights to use common property to lot owners

 

What are the commercial issues?                

There are a number of commercial considerations to take into account such as:

  • What will be the price – arbitrary, market value or a nominal figure?
  • What are the tax implications for the owners corporation and for individual lot owners for payments received?
  • What is the best way to structure the arrangement?

 

How do we structure?

Structures for these arrangements could be by way of:

  • Conversion of a lot to common property
  • Easement
  • By-law

 

***The information contained in this article is general information only and not legal advice. The currency, accuracy and completeness of this article (and its contents) should be checked by obtaining independent legal advice before you take any action or otherwise rely upon its contents in any way.

 

Prepared by Bannermans Lawyers

30 August 2013

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For more information on this topic or any legal enquiries please contact your Strata Team.

 

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