THE ADVANTAGES OF A STRATA PLAN JOINT VENTURE WITH US ARE:
All costs of the refurbishment are covered by BPG.
All structural & aesthetic issues rectified.
No Special Levies need to be raised.
Building brought in line with BCA compliance
Have the work done quicker & enjoy the benefits sooner.
No need to touch the Sinking Fund.
Increased value to existing property.
Increase rental potential to existing property.
A safe, rejuvenated building with greater street appeal.
A large percentage of residential apartment blocks within the Sydney metropolitan area are in immediate need of refurbishment or will need to be re-developed over the coming decade. Typically built between 1950 and 1970, at minimal cost and with few planning controls, many of these walk-up, residential buildings are in a complete state of despair.
At BPG, we have found that there is a great need within this market to have another option other than Body Corporate or Owner Corporation loans to support falling Sinking Funds or raising special levies for upgrades as & when they are needed.
Of course, there are some Owner's Corporations who will choose to completely sell up to developers, but for those who love where they live & want to stay, our who want to add value & retain their investment property, then our Strata Plan JV model gives owners another option.
A typical Strata Plan JV with us looks like this:
BPG covers the cost of all improvements required to get the building up to code.
All structural & aesthetic issues are rectified, individual apartments are renovated & in many cases cash bonuses &/or new furniture allowances are given to each unit.
In exchange for the refurbishment, the owners corporation gives BPG the right to add an additional unit(s) to building.
In order for a Strata Plan JV to proceed, at least 75% of the owners corporation needs to agree to the partnership.
BPG are trusted property developers with over 20 years experience, and would love to talk to you about how we may be able to work together.