Earthquake proposals
The Government plans, in response to the Royal Commission’s findings, would require all commercial buildings and high-rise apartment blocks to be assessed for earthquake risk and the results made public.
Any buildings found to be at risk of collapse would have to be strengthened or demolished within 15 years under the proposed changes.
Olly Newland said not enough thought had been put into the proposals.
“Did the Commission take into account that in many instances the tenant may have to pay for the strengthening under the improvements clause contained in most leases? Did the Commission think about what happens to business tenants with leases who will have their businesses destroyed while strengthening is undertaken?”
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.