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1. Introduction to Part Building Strata
Schemes – Stratum Parcels
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2. What Is a Part Building Strata Scheme?
• Separates different parts or
‘uses’ of the one building
• Separate strata plans for
retail shops and residential
units
• Strata management
statement deals with
shared facilities and
common areas
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Kingswilliam – 104 William Street, Five Dock
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3. King Street Wharf Sydney (Complex)
•
•
•
•
9 towers
Common basement
Private and public uses
Public roads above the
basement
• Staged development
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4. Why Separate Schemes Within One
Building?
Isolate
distinct costs
eg higher
commercial
insurance
premiums
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Eliminate
residential
owners
interference
in commercial
undertakings
Reduce
compliance
costs for
residential eg
WHS
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5. Different Terminology
Strata management statement
Common areas and shared facilities
Stratum lot (ie air space lot)
Stratum parcel (strata scheme of a strata lot)
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6. Strata Management Statements
Shared
Facilities
BMC
Stratum
Lot
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Stratum
Parcel
• Registered on title
• Binds future purchasers and
mortgagees
• Defines shared facilities and
common property
• Establishes a building
management committee for
managing common areas and
facilities
• Divides costs
• Requires unanimity for
amendment
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7. Building Management Committee
• One delegate from each
component
• Jurisdiction over
common areas
• Raises funds to cover
shared facilities
• Not a separate legal
entity
• Separate strata
management
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8. Shared Facilities
Area services and
equipment within one lot
in the building in one
stratum within the building
shared by two or more of
the component users
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9. Dividing Costs of Shared Facilities
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10. About the Presenter
About the webinar presenter - Michael Teys is the Founder and Principal
Lawyer of TEYS Lawyers. He has a Bachelor of Laws and practices
exclusively in the area of strata title law. He is a Fellow of the Australian
College of Community Association Lawyers. He was formerly an Adjunct
Lecturer with Charles Sturt University. He appears weekly on SKY News
Business Channel's Property Success with Margaret Lomas and is a
regular panellist for the property edition of Your Money, Your Call for the
same channel. You can read Michael’s blog at www.michaelteys.com and
follow him on Twitter at @MichaelTeys.com
Teys Lawyers practice nationally in strata title law representing owners corporations, bodies
corporate and apartment owners. The firm’s practice groups include building defects, strata
community disputes, strata titles property law, by-laws and levy collection.
Subscribe for their free e-newsletter StrataSpace and find out more about them at
www.teyslawyers.com.au
© Copyright 2013 Teys Lawyers
www.teyslawyers.com.au