Eliot Sinclair & Partner’s survey team have experts in unit title developments, whether residential, commercial or industrial, to assist clients and developers in dividing their land and building into freehold stratum estate units. As land use intensifies and development densities increase in urban areas, unit titles have become more applicable in multi level or layered developments or even storage unit ones.
The Unit Titles Act 2010, a much improved statute of its 1972 predecessor, generally allows for the subdivision of land and buildings into Principal Units, Accessory Units and Common Property; enabling the units to be owned in stratum estate in freehold or stratum estate in leasehold or license by unit owners. The daily management of the common property and development continues to be run by the Body Corporate.
The primary advantage of the UTA 2010 is it allows for the flexibility of staging unit developments and in brief provides for the following types of Unit Title developments:
• Standard unit development (single stage)
• Stage unit development
• Layered and Subsidiary unit development
• Combining Unit Plans
• Adding or Removing Land from unit title developments
• Converting existing Company or Cross Lease Schemes
To list a few, our unit title specialists have experience in the residential developments of 31 Poulson Street, 187 Cashel Street, 526 Mairehau Road; the commercial developments of 950 Ferry Road, 12 & 15 Penn Place, 340 Durham Street North, 29 Ensign Street and storage units at 10 Penn Place, 125 Bamford Place, 204 Cumnor Terrace and others.
We even look forward to one future day using LINZ’s ASAT’s system to fully and digitally recording unit developments three dimensionally!