- This topic is empty.
-
Posts
-
It’s a tale of contrasting fortunes for the residents of Mascot Towers and the developer they have just settled with who they claim caused the cracks that forced them out on the street with only what they could carry. <br /><br>The out-of-court settlement was reached with Aland Developments, founded by Andrew Hrsto, who recently settled a personal bit of real estate business by buying a $19.5million mansion with extensive water views in the exclusive suburb of Vaucluse. <br>solonohio.orgMascot Towers tenants were given four hours to evacuate over fears the building in Sydney’s south could collapse after alarming cracks were found in its basement on June 16, 2019. <br>Apartment owners sought damages of more than $15 million against Aland, claiming work on the neighbouring Peak Towers building had caused the damage. <br> The owners of the ill-fated Mascot Towers (pictured) have settled with a developer who they claim caused the cracks in their building that forced them to flee their homes<br> The luxury five-bedroom home recently bought by Aland founder and managing director Andrew Hrsto<br>Mr Hrsto argued strenuously that engineers undertook a report of neighbouring buildings before construction began on Peak Towers and there was photographic evidence that the flaws in Mascot Towers were pre-existing.<br>It has been three years of financial hell for the owners of the Mascot apartments, who are unable to live in, rent or sell the places but still need to fork out strata levies and mortgage repayments. <br>The NSW government has offered rent assistance since the 132 owners were unceremoniously kicked out of the dangerous building in 2019, with the support due to end in June 2023.<br> Mr Hrsto’s new house for rent near jipmer pondicherry features stunning panoramic views of Sydney Harbour<br> The home is nestled among some eye-wateringly expensive real estate<br>The Vaucluse property sits on a 600 square metre block and has expansive views of Sydney Harbour.<br>It sits only two doors from the La Mer Mansion that billionaire James Packer sold for $70 million in 2015.<br>Scott Higgins, the lawyer representing Mascot Towers owners in their NSW Supreme Court negligence claim, said the undisclosed settlement would be a great relief. <br>’The owners of Mascot Towers have been through enormous emotional and financial strain since the evacuation,’ he told .<br>’They have ongoing strata levies that they can’t avoid and yet they can’t move back in or sell their units until all the rectification works have been done. They all just want to get on with their lives and put it all in their rearview mirror.'<br> The building Mascot Towers building has been stabilised but new cracks were reported to be appearing up until April last year (pictured, builders at the site)<br>Issac Lean, who was spokesperson for the owners’ corporation, agreed with those sentiments.<br> ‘We’re confident that the banks who hold mortgages along with other stakeholders, like Lannock Strata Finance, will do the right thing by owners and get behind the termination and sale process.’ <br>While the building has been reported as stabilised new cracks were appearing as recently as April last year. <br> Owners of the Mascot Towers building have been fighting to get some financial respite after their units had to be rapidly evacuated (pictured)<br> Residents were given only four hours to evacuate the 10-storey tower back in June 16, 2019 (pictured, a tenant carries her personal items from the tower)<br>The owners plan to dissolve their strata scheme, allowing the building to be sold as one lot having already borrowed heavily to finance their litigation and to do repairs on the building. <br>A developer previously offered $42million for the building, a price the owners said would leave them drowning in debt. <br>Chair of the owners’ corporation, Gary Diegan and his wife Marie have been forced to live in rental properties after they bought their Mascot Towers unit outright. <br> RELATED ARTICLES
Share this article
ShareOn top of rent in the temporary accommodation, the couple have been forced to pay mortgage, water, and council rates at Mascot.<br>’What we don’t understand is how in a first world country like Australia, that the government can’t protect us and don’t have the regulations in place,’ Mr Diegan told A Current Affair in April last year.<br>Anthony Najafian was renting out his Mascot Towers unit when the building had to be closed down. <br>His family is now millions in debt having to service two mortgages with one unit being left idle. <br>’We felt it was safe, we felt we were protected. I just would have never imagined that my apartment would just completely disappear,’ he told Nine News in last month.<br>
adverts.addToArray({“poDM.later(‘bundle’, function()
DM.has(‘external-source-links’, ‘externalLinkTracker’);
);