Purpose of Report: Capital Works Fund Forecast Report & Replacement Building Valuation Report
Date of Report: June 2023
Address: Sydney CBD
Yearly Expenditure: $350k – $400k per year over 10 years
Yearly Levy Contributions: $450k to $500k per year
Total Replacement Value: >$238 Mill
Asset Strata Valuers had the privilege of being appointed to provide a Capital Works Fund Report and a Replacement Building Valuation Report for the Owners Corporation.
The property is a thirty (30) level residential apartment tower consisting of 281 residential lots, retail and commercial lots (including a Hotel) plus 210 parking lots. The property has two frontages on major Sydney CBD streets, four passenger lifts, a gym, large heated pool and spa. This is important to ensure the long-term maintenance and repair of the building as well as the replacement of any common property items.
Our comprehensive and detailed report CWF report will ensure that the capital works fund levies provide the Owners Corporation sufficient information to better plan their finances to minimise future risk of insufficient funds on expensive repairs to the property.
Our comprehensive and detailed Replacement Buiding Valuation Report will ensure that the property has sufficient insurance to cover full replacement costs.
Download the Sydney CBD – Case Study
