PHOTO: Owners who forked out millions buying their apartments in Mascot Towers (pictured, left) in the city’s inner-south could now lose everything, and they are calling on the government to step in.
- Mascot Towers complex in Sydney’s inner-south was evacuated in June 2019
- Residents have been unable to return due to major cracks found in the building
- Many are now lumped with crippling debt and unable to make bank repayments
More than 130 families who were forced out Sydney’s ‘sinking’ Mascot Towers after the building started cracking at the foundation still can’t sell or rent their apartments two years down the track.
Owners who forked out millions buying their apartments in the city’s inner-south could now lose everything, and they are calling on the government to step in.
After a building manager discovered cracks in the basement on June 16, 2019, all residents were given just four hours to evacuate the following day.
A total of 132 families remain locked out and unable to live in, rent or sell their properties.
Understandably, they want answers.
Chair of the owners corporation, Gary Diegan and his wife Marie have been forced to reside in rental properties – while at the same time still paying mortgage, water and council rates at Mascot.
Many owners could soon be declared bankrupt as they are faced crippling debt and cannot meet their bank repayments.
‘What we don’t understand is how in a first world country like Australia, that the government can’t protect us and don’t have the regulations in place,’ Mr Diegan told
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