Strata developments comprise a substantial percentage of all accommodation in Western Australia and strata living is becoming increasingly popular as the push for greater density gathers momentum.
A critical element of the Strata Titles Act is the uncapped liability of strata owners and their obligation to ensure the development is insured for the correct sum. Hemsley Paterson have a strong track record providing highly detailed and thorough Insurance Valuations for many of the strata management firms throughout Perth. We ensure that all relevant components are considered, such as the cost to rebuild to a modern day equivalent, professional fees, demolition/removal of debris and escalation periods.
We work alongside a number of Surveyors and assist in the provision of the Schedule of Unit Entitlement required for various scenarios, such as new developments, re-subdivisions and disputes.
Strata developments have the potential to throw up a wide variety of scenarios that require valuation advice, including the disposal of common property, acquisition of land for an infrastructure project (ie) road widening, or the assessment of redevelopment opportunities to name a few. Contact us to discuss your unique situation.
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