1304/7 Magdalene Terrace, Wolli Creek (Lot133 SP92332)

Strata Report

Inspection Date: 23/08/2022
678 pages
7 Magdalene Terrace is an 18-storey residential building with retail lots at street level & basement carparking, which was built in 2016 with compresed fibre cement sheeting clad & rendered cavity brick walls, concrete floors, aluminium framed windows and a flat concrete roof with a waterproof membrane.
SP92332 is a part building strata scheme occupying a stratum parcel in DP1202569. The complex consists of four strata schemes SP91875, SP92331, SP92332 and SP92529.
Management of shared facilities for the complex is undertaken by a Building Management Committee (BMC) which includes representatives of the owners of each of the stratum parcels.
The BMC is not a separate legal entity but it does maintain its own accounts, minutes and records. We have not had access to the BMC records and make no comment as to the affairs of the BMC.
Vivid also belongs to the Discovery Point Co-operative which consists of many new & heritage buildings and Discovery Point Insurance which arranges the insurance for all buildings in the Co-operative, as well as the Carpark Umbrella Committee. We have not had access to the Co-operative records and make no comment as to their affairs.