Sorry if this has been covered previously, the search function doesn't appear to be working (I get a blank screen).
A ground floor apartment with a large outside area is for sale in a 4 unit block (2 down, 2 up). We have been told the private outside area is on a 99 year lease. How does this affect future changes to this space? There's a garage that I'd like to extend out the back, some concrete to change into garden etc and wondering if the lease arrangement would make this difficult. I suspect the 99 year lease is a way of keepng changes under the control of the owners corp, at the same time I guess also insured by them too.
Can anyone shed some light on this? The pros/cons/controls over 99 year leases would be beneficial for me!
Am going to get my conveyencer to review the sect32 but was interested in opinions, experiences.
Thanks.
A ground floor apartment with a large outside area is for sale in a 4 unit block (2 down, 2 up). We have been told the private outside area is on a 99 year lease. How does this affect future changes to this space? There's a garage that I'd like to extend out the back, some concrete to change into garden etc and wondering if the lease arrangement would make this difficult. I suspect the 99 year lease is a way of keepng changes under the control of the owners corp, at the same time I guess also insured by them too.
Can anyone shed some light on this? The pros/cons/controls over 99 year leases would be beneficial for me!
Am going to get my conveyencer to review the sect32 but was interested in opinions, experiences.
Thanks.