Nevertheless, one owner of an apartment, backed up by at least one other owner, thinks the block is past its use by date and should be demolished and something new built on the block, thereby realising a huge profit for owners of flats in the building. The flats would have been quite cheap to buy by today's standards.
Bang on the chap may do about selling the whole block, but some people are very content living there, and are not for selling. I forget the exact percentage now, but it is something like 80% of owners must agree to the sale of a whole block of strata title flats.
This is of some interest to us, but we are old enough not to be affected. At some point our very plain but quite well maintained high rise block will have reached the end of of its life. I can well imagine being a really old owner person and not wanting bother and not agreeing to a sale and being one of the 20% plus who won't sell.
I think in New South Wales the percentage of owners agreeing to demolition has been reduced to a lower percentage of votes.
Meanwhile in Sydney a great story has emerged about outsiders parking in a building, where they own a car parking space. The owner parking in a posh apartment building is in Elizabeth Bay. The matter has been taken to the highest court and residents of said block have lost, and the non resident owners of the car parking spaces are free to use their car parking spaces as they wish.