Toplace enters defect agreement
Sydney developer Toplace has accepted liability for any structural defects in its new Skyview towers complex for 20 years.
The Skyview complex in Castle Hill has been under a Prohibition Order since June after a range of defects were discovered in its basement by government inspectors.
Toplace has now agreed to a deal with authorities that requires it to remedy any defects that are revealed in the coming years, in return for the Prohibition Order being lifted.
The company will be liable for any structural issues in the complex and must source a structural engineer to monitor the buildings for the next 10 years, as well as fixing any other defects that may become apparent after buyers settle.
The company and its subsidiary 51 OCHR Pty Ltd must also secure insurance security bonds to the value of $11 million to help pay for any problems in the future.
It comes after an independent review ordered by Commissioner David Chandler found the buildings should be monitored for the rest of their existence.
A NSW Upper House committee, chaired by Greens MP David Shoebridge, has called for submissions from apartment and home owners to determine if more can be done to protect buyers.