IQ Apartments

the documentation in light of the change in direction, and consequently it was necessary to modify the approach and consider the design and operation implications of the new nature of the development. A great deal of energy was exerted in educating key stakeholders such as buyers who had already exchanged, people considering purchasing, agents and consultants. We provided ongoing consultation to the developers and challenged them to include design provisions which would be to the ultimate benefit of the eventual property owners. It was necessary to consider the benefits and potential problems of a wide range of design elements and building functions, workshop solutions, and communicate recommendations back to the client. Further difficulties arose with the building experiencing delays for a number of reasons. Initial budgets were reviewed on multiple occasions to account for inflationary pressures, and careful adjustments were made. Leading up to the completion of the development and registration of the Units Plan, we provided our knowledge and experience with similar developments located within Sydney and Melbourne to assist in the creating of detailed documentation setting out the nature of shared services and infrastructure and establishing the way in which these services were intended to function. We created a detailed suite of documents, drawings, registers and resolutions as part of the inauguration documentation which will serve the interests of all parties in the years to come as the building transitions from a development to a thriving business and accommodation precinct of national significance.

Key Benefits / Outcomes

The fully completed Nishi development remains in its infancy and many further challenges will be faced into the future. However, the success of the ongoing management of the facility has been underpinned by the painstaking work carried out throughout the process.

Many developers are now looking to Nishi as a template for application to future mixed use developments, particularly where developers seek to retain ownership of commercial assets without the traditional shortcomings of being tied to a broader mixed use Units Plan.

The success of the activities undertaken are evidenced by a number of points:

 Nil occurrences of disputes arising from the disclosure documentation provided at the outset of project launch  Detailed documentation clearly setting out the various rights and obligations for future management  Protection of rights for commercial business operations within the building  High level of education / exposure of the process across the industry  Replication of process for another marque developments planned for the future  Broad acknowledgement and acceptance of the process undertaken by industry peers (conveyancing professionals, agents etc.)